Shakespeare & Co has has a 49% stake acquired by NBK Capital. Shakespeare & Co has has a 49% stake acquired by NBK Capital.

NBK Capital has acquired a 49% stake in Dubai’s Shakespeare and Co., a casual dining concept in the UAE, with the aim of expanding its footprint in the region.

NBK Capital Equity Partners Fund II L.P., is NBK’s second private equity fund focusing on growth investments in middle market companies focused on the MENA region, and its investment in Shakespeare and Co. will enable the chain of restaurants to bolster its operations domestically and broaden its footprint in the region.

Shakespeare and Co. chairman Dr. Edward Saad said: "This partnership with NBK Capital is a significant strategic step forward for Shakespeare as we accelerate our expansion regionally and internationally. We are very proud of our accomplishments and success over the years, and we look forward to the next chapter in our evolution."

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The Shakespeare and Co. concept was established in Dubai in 2001 by the Saad Family, with the first branch located on Sheikh Zayed Road. 

Its general manager Gaetan Herve said: "NBK Capital’s acquisition is a transformative transaction that will enable us to unlock the considerable value potential of the casual dining landscape in emerging markets and solidify our growth ambitions."

Since opening over 12 years ago, the company has since grown to 17 company owned and operated establishments in the UAE, and one in the United States, as well as franchise locations in Jordan, Lebanon, Qatar and Oman.

NBK Capital senior managing director and head of alternative investments Amjad Ahmad said: "Our investment in Shakespeare is consistent with our strategy of investing in middle market companies operating in sectors with strong fundamentals. The company has built an excellent business which we plan to grow and develop together over the coming years."

Shakespeare and Co. plans to open six additional outlets in the UAE and a second US location within the next 12 months, preluding an anticipated target of 35-40 company owned and operated restaurants by 2017.