Dubai-based Snasco Investments has announced acquisition of majority stake in homegrown hospitality chain, Shakespeare and Co.
With the transaction expected to be completed in the coming weeks, pending final due diligence, the procurement terms will see Snasco investments take over the rights to the 32-store and 8-franchise business across the GCC.
Following the transaction, Snasco Investments Middle East plans to expand the Shakespeare and Co brand across the GCC and beyond, leveraging its strong track record in the hospitality and restaurant industries. Snasco's portfolio includes Oakberry, a World famous Brazilian acaiberry brand, the popular Outback Steakhouse Chain in Saudi Arabia and Veggitech, a UAE-based food tech startup.
Integral part
Over the years, Shakespeare and Co have become an integral part of the local homegrown food scene, earning a place in the hearts of locals and tourists alike. Its unique blend of vintage charm, contemporary flair, and world-class cuisine has made it a favourite destination for special occasions, family gatherings, and casual dining experiences.
Sheikh Saleh Al Sorayai CEO of Snasco Investments Middle East, said: "We are excited to be in the final stages of acquiring Shakespeare and Co and look forward to working closely with the team to expand the brand and deliver exceptional dining experiences to our customers.”
He added: “The acquisition will be in line with our strategy of investing in high-quality businesses with strong growth potential, and we believe that Shakespeare and Co are well-positioned to capture the growing demand for high-quality casual dining experiences in the region."
Expanding reach
As Snasco Investments Middle East acquires a majority stake in Shakespeare and Co, the restaurant chain is poised to expand its reach even further, bringing its exceptional dining experiences to even more customers across the region. With its original and iconic status, Shakespeare and Co is sure to continue serving up delicious food and unforgettable experiences for years to come.
The transaction is subject to customary closing conditions, including regulatory approvals.-- TradeArabia News Service
&uuid=(email))