UAE - Mubadala Capital-backed REEF, Americana Group partner ...| MENAFN.COM

Tuesday, 24 May 2022 01:58 GMT

UAE - Mubadala Capital-backed REEF, Americana Group partner to open and operate cloud kitchens across MENA region


(MENAFN- Emirates News Agency (WAM))

ABU DHABI, 6th January, 2022 (WAM) -- Today REEF, the largest operator of delivery kitchens, logistics, and proximity hubs in North America, and Americana Group (Americana), the largest Food & Beverage operator in the Middle East region, announced a joint venture to open cloud kitchens that will operate REEF, Americana and third party brands throughout the Middle East and North Africa.

'As REEF continues its international expansion, this highly strategic partnership is a milestone that will serve as a model for the ways our ecosystem can deliver rich market-backed content to new locations in a way and at a pace that wasn't possible before,' said Ramez Shehadi, President of International and Chief Growth Officer at REEF. 'We look forward to growing this relationship and replicating it across many priority markets in the near future.'

While building its infrastructure on recently announced acquisitions in the Middle East. The joint venture will strengthen and accelerate REEF's rapid global expansion through Americana's well established real estate portfolio and end to end value chain throughout the region.

'Food tech is an exciting space and offers vast opportunities to grow our customer base. We are glad to collaborate with REEF. As technology and ordering trends continue to evolve, we believe this collaboration will bring mutual synergies and benefit in the long run' said Amarpal Sandhu, CEO of Americana Restaurants.

In November 2021, REEF acquired iKcon Restaurant LLC, a UAE-based cloud kitchen company, marking the Miami-based company's first major transaction in the region. In 2020, Mubadala Capital, a wholly owned asset management subsidiary of Mubadala Investment Company, led a US$700-million funding round into REEF, along with SoftBank, Oaktree Capital Management, UBS Asset Management and Target Global.

REEF has a proximity ecosystem of over 8,000 locations and a team of over 18,000 team members. The company established its presence in the Middle East in August 2021. To date, the company has partnered with a number of international brands to bring its cloud kitchens concept to local neighborhoods, including MrBeast Burger in Dubai and Another Wing, which REEF globally launched in partnership with DJ Khaled, opening 165 locations in 3 continents, at the same time.

'By uniting the region's largest and most established F&B operator with REEF's culinary ecosystem, this partnership will bring convenient access to some of the most loved brands to neighborhoods across the Middle East and North Africa,' said Michael Beacham, President of REEF Kitchens. 'Americana is renowned for their outstanding operations and a deep commitment to quality. We look forward to an enduring partnership and helping to build the future of the industry together.'

Americana Group owns exclusive franchise rights for the management and operation of over 1,950 restaurants representing some of the world's leading Food & Beverage brands including KFC, Pizza Hut, Hardee's, Krispy Kreme, Wimpy, TGI Fridays, etc. in 13 markets across the Middle East, North Africa, and CIS.

 

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