The joint venture agreement was signed by Al Nasser Holdings chairman Abdulla Nasser Huwaileel Al Mansouri, Minor Food Group CEO Paul Kenny in Abu Dhabi, UAE.
Gulf business conglomerate Al Nasser Holdings has moved into the F&B business, having tied up with Thailand-based Minor Food Group, one of the largest restaurant operators in Asia.
The JV will first introduce The Coffee Club, Australia's home-grown café brand to in the UAE, followed by launching of other core F&B brands of Minor Food Group across the region.
The joint venture agreement was signed by Al Nasser Holdings chairman Abdulla Nasser Huwaileel Al Mansouri, Minor Food Group CEO Paul Kenny in Abu Dhabi, UAE.
| Advertisement |
"As per the agreement signed, we will initially open a chain of The Coffee Club restaurants at various locations including shopping malls and other lifestyle communities across the Middle East and North Africa, using the existing network of Al Nasser Holdings in the region. Later on, we and the Minor Food Group will jointly unveil other F&B brands," said Al Mansouri.
Kenny said: "We are excited to form the partnership with Al Nasser Holdings. We believe they are the right partner to help us drive the expansion of Minor Food Group brands in the fast growing GCC market."
The Coffee Club has grown since its inception in 1989, and now has 316 restaurants in Australia, New Zealand, Thailand, New Caledonia, China and Egypt. Kenny added: "The strength of The Coffee Club brand and its famous coffee are the key drivers for our growth across Asia. We believe it will achieve the same level of success in the GCC with the target of 112 restaurants in the GCC, including 30 restaurants in the UAE by 2023.
"In addition to The Coffee Club, the venture plans to introduce additional brands of quick-service and casual dining restaurants under Minor Food Group umbrella in the GCC. The growth potential in this market is tremendous and we are committed to providing 100% satisfaction to all of our customers throughout the GCC."
Al Nasser Holdings currently holds over 70 companies under its umbrella in multiple sectors including retail, steel manufacturing, power, polymers and structural steel, oilfield supplies, product storage, dredging, cathodic protection, and real estate.
The Minor Food Group owns, operates and franchises a chain of 1,419 restaurants, 18 food concepts in 17 countries across Asia. The core brands under its operation include The Pizza Company, Thai Express, The Coffee Club, Riverside, Ribs & Rumps, Swensen's, Dairy Queen, Sizzler and Burger King.
Search our database of more than 2,700 industry companies
