MAIR Signs Deal For 70% Eslab Stake Arabian Post

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Arabian Post Staff -Dubai

Abu Dhabi-listed MAIR Group has agreed to acquire a 70 per cent stake in Eslab, owner of Turkish-origin specialty coffee chain Espressolab, marking the investment group's first international acquisition since its stock-market listing.

The company said it had signed a share purchase agreement for 70 per cent of Eslab's issued share capital. Eslab's founders and existing shareholders will retain the remaining 30 per cent and continue supporting the business as it enters its next phase of growth.

Completion remains subject to customary closing conditions, including regulatory approvals in the relevant jurisdictions. MAIR did not disclose the purchase price or other financial terms in its announcement.

The transaction would add a fast-growing consumer brand to MAIR's portfolio, which is centred on grocery retail, commercial real estate and strategic investments. The group said the acquisition was intended to diversify its holdings beyond its core UAE businesses and give it exposure to an established international food-and-beverage platform.

Espressolab, established in 2014, had expanded to more than 400 coffee shops across 21 countries by August 2026. More than 310 outlets were operating across over 50 cities in Türkiye, making the domestic market the largest part of its network.

The chain operates mainly through a franchise-led model. Eslab's business also covers brand management, franchising, coffee sourcing and roasting, product supply, retail and digital channels, giving MAIR an interest in activities extending beyond the operation of cafés.

For MAIR, the agreement represents a step outside the UAE after the group joined the Abu Dhabi Securities Exchange in December 2024 under the ticker MAIR. Its listing gave institutional and individual investors access to a business built around food retail and commercial property, with ADCOOP among its principal operating assets and SPAR forming part of its retail network.

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At the time of the 2024 listing, MAIR described itself as a strategic investment group focused on food retail, commercial real estate and investments supporting the UAE's food-security agenda. The company's shares began trading at a reference price of Dh1.16.

The Eslab purchase would broaden that investment profile into branded specialty coffee and international franchising. Unlike MAIR's grocery operations, Espressolab's network relies substantially on franchise partners, allowing the brand to operate across multiple markets while retaining central functions such as sourcing, roasting, product supply and brand management.

Retaining Eslab's founders and shareholders as minority investors also means the existing owners will remain involved after completion. MAIR said they would continue supporting the company's development, while the Abu Dhabi group would hold the controlling stake.

The proposed acquisition comes as specialty coffee operators continue to expand through franchising and branded retail formats across the Middle East, Europe and other markets. For investors, however, the immediate financial effect of the deal cannot yet be assessed because MAIR has not published the consideration, funding structure or expected contribution to earnings.

The regulatory process will determine the timetable for closing. MAIR said it was completing the steps required under the share purchase agreement and that the transaction would proceed once the customary conditions precedent, including the necessary approvals, had been satisfied.

Eslab is formally registered as Eslab Kahve Gida Sanayi ve Ticaret Anonim Sirketi. The company owns the Espressolab brand and has registered trademarks for the name and related coffee, beverage and food-service activities in several markets as part of its international expansion.

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Espressolab's scale has grown sharply from its Turkish base, with the network reaching hundreds of outlets within 12 years of its establishment. Its footprint now combines company-supported brand functions with franchise operations across 21 countries, while Türkiye remains the centre of the chain's store base.

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