SAUDI ARABIA – MENA’s first partner-owned private credit fund management fund, Ruya Partners has completed a SAR 58.1 million (US$15.5 million) private capital investment in technology-enabled restaurant groups Epik Foods via its Ruya Private Capital I fund.
Epik Foods is set to benefit from the strategic investment that will support its expansion in Saudi Arabia and further growth in the UAE.
The funds will be used for key acquisitions and to enhance on-balance sheet working capital liquidity.
The partnership resulted from the merger of three UAE-based food and food tech companies: Happy Platter Kitchen, Kreative Restaurant and Co, and Sweetheart Kitchen.
Currently, Epik Foods manages a diverse portfolio of 60 distinct F&B brands across 50 locations in the UAE and Saudi Arabia, with 20 more locations planned.
The company is strategically positioned with a strong presence in various food categories, including Poke & Co., Healthy & Co., Acai & Co., and Route Beirut.
Khaled Fadly, CEO and Founder of Epik Foods, expressed excitement over the partnership with Ruya Partners, stating that the investment would enhance the company’s expansion efforts in Saudi Arabia and the UAE.
Mirza Beg, Founding Partner of Ruya Partners, remarked that the investment marked the fourth from their fund, underscoring their commitment to providing tailored growth financing solutions for mid-market companies across the GCC.
He noted that Epik Foods had demonstrated a solid and well-executed growth strategy, and that GII had played a crucial role in the company’s development.
Beg further emphasized their enthusiasm about supporting Epik Foods as it scales its operations to capitalize on the region’s vast growth potential.
Rashid Siddiqi, Founding Partner of Ruya Partners, highlighted the significance of collaborating with established financial sponsors like GII, which offer valuable resources and strategic support.
He expressed particular enthusiasm for private capital investments across the region, especially those led by financial sponsors who share a unified vision for growth.
Omar Al Yawer, Partner at Ruya Partners, added that their fund’s portfolio now includes diverse sectors such as media, energy, fitness, and food. He mentioned that their investment pipeline remains active, with additional investments expected to close soon.
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