The First Investor, the investment banking arm of Barwa Bank Group, announced today that it has successfully acquired a 49.0% stake in Shater Abbas Restaurants International Group, a leading restaurant chain headquartered in the State of Qatar.
Mr. Yousef Al Obaidan, Acting Chief Executive Officer of The First Investor stated:
“Our investment in Shater Abbas is in line with our strategy of investing in middle market companies operating in the food & beverage sector with strong fundamentals. The company has built an outstanding concept and is planning as well to diversify its network through the development of new high-ends food concepts, which we plan to grow and develop together over the coming years in the GCC region and globally.”
Speaking on the acquisition, Mr. Hussain Al Emadi, Chairman and Managing Director of Shater Abbas Restaurants International Group stated:
“This partnership with The First Investor is a strategic step forward for Shater Abbas, our focus now is to maintain the quality of our food, diversify our services and enhance our procurement and operations processes. We are proud of our accomplishments over the years, and we are excited about the next chapter in our evolution.”
Established in the State of Qatar in 1998 by Mr. Hussain Al Emadi, the Shater Abbas Restaurants concept features a variety of Persian and Gulf contemporary cuisine. The company has 9 branches, a central kitchen and offers home delivery & catering services and has a staff of more than 270 employees. Six of the branches are dine-in locations, while the remaining three are located in shopping mall food courts. Source: Qatar Gulf News