Chef Middle East supplies 2000 different products to more than 1000 customers across the hotel, food service, casual dining and airline industries.
Gulf Capital, the Middle East investment firm based in Abu Dhabi, has acquired 100% of Chef Middle East, the importer and distributor of specialty food products for the region’s F&B industry.
Established in Dubai 1995, Chef Middle East supplies global food brands to the hotel, food service, casual dining and airline industries and serves 2000 different products to more than 1000 customers in the United Arab Emirates, Qatar and Oman.
Gulf Capital chief executive officer, Dr. Karim El Solh, said: “We are excited to be exposed to the thriving food and consumer sector in a growing niche through a highly reputable market leader, such as ‘Chef’.
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"The strong underlying growth of the sector is driven by positive market fundamentals that continue to fuel the upward trend in the economy, including a booming population; growth in non‐oil sectors such as tourism, manufacturing, transport and logistics, and services; and an increase in consumer spending.”
Currently the food and beverage market in the UAE is estimated to be worth more than AED 6 billion (US $1.6 billion) and is forecasted to grow by seven to 10% per annum; while in Qatar the AED 1.8 billion ($500 million) F&B industry is predicted to grow by eight to 10% every year.
During the same period tourist expenditure in the UAE is forecasted to grow by 11% per annum in while total tourist numbers are expected to grow by 8%. Private F&B consumption is also expected to be high and expected to grow by 13.6%, 13.0%, and 8.1% in the UAE, Qatar and Oman respectively.
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