Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Americana Restaurants International, which operates some of the most recognised restaurant brands in the region such as KFC, Pizza Hut, Hardee’s and Krispy Kreme, is in early talks to acquire a stake in Cravia, a regional food and beverage operator known for brands like Five Guys and Cinnabon.
In a stock market filing, the company said: “Americana Restaurants is in preliminary discussions with Cravia for the purpose of acquiring stake(s) in the company.” The disclosure was signed off by Saqib Muhammad Sabit Awan, Secretary of the Board.
The company is dual-listed on the Abu Dhabi Securities Exchange (ADX) and the Saudi Stock Exchange, and is jointly owned by Public Investment Fund, Saudi Arabia’s sovereign wealth fund, and Mohammed Alabbar, the founder of Emaar Properties. Its market capitalisation stands at Dh17.1 billion, according to the latest ADX data.
Cravia, a Dubai-based restaurant operator, manages a portfolio that includes Five Guys, Cinnabon, Zaatar w Zeit, Seattle’s Best Coffee, and Carvel. If the deal proceeds, it would significantly expand American Restaurants’ footprint in the premium casual and fast-casual segments of the dining market across the Middle East.
Americana Restaurants International is already the largest out-of-home dining and quick service restaurant operator across 12 countries in the MENA region and Kazakhstan, based on the number of outlets. According to company data, it is a leading master franchisee for several top-tier global brands, including KFC, Pizza Hut, Hardee’s, Krispy Kreme, TGIF, Costa Coffee, Baskin Robbins, and Peet’s Coffee.
The company, which had a landmark IPO in 2022, became the first firm in the region to list simultaneously on both ADX and the Saudi Exchange.
With decades of heritage in the food and beverage sector, Americana Restaurants has built a geographically diversified footprint and an extensive restaurant portfolio.
Americana Restaurants reported a revenue of $2,20 billion in 2024 with a net profit of $159 million. According to a factsheet on its website, it was running 2,630 restaurants at the end of 2024.
