Shatirah House Restaurant Company (Burgerizzr) has agreed to buy a 60% stake in Coffee Bean Trading Company (Shovel).

The acquisition is part of the company’s growth plan to enter the café sector, as it seeks to expand and build brands in the food sector, Burgerizzr said in a statement to the Saudi stock exchange.

The stake purchase will be self-financed and is subject to meeting all contractual requirements and obtaining regulatory approvals in the kingdom.

Coffee Bean Trading owns the “Shovel” brand and currently operates seven branches.  

(Editing by Seban Scaria seban.scaria@lseg.com)