UAE-based investment firm Alpha Dhabi Holding has acquired a stake in Greek lifestyle and F&B brand Nammos, as it looks to cash in on the growing food and beverage and lifestyle markets.
The deal of undisclosed value is a result of the company’s joint venture with Monterock International, an international investment company with a focus on hospitality and F&B sectors, Alpha Dhabi said in a statement to the Abu Dhabi Securities Exchange (ADX) on Thursday.
The transaction is part of the company’s plan to build a global portfolio of luxury, lifestyle, F&B and entertainment brands.
Headquartered in Mykonos, Nammos has presence in Dubai, Cyprus and Qatar and has plans to open new venues in London, Cannes and Abu Dhabi.
According to Hamad Salem Al Ameri, CEO and Managing Director of Alpha Dhabi, there is a strong potential for the expansion of the company’s platform into the F&B and wider lifestyle space.
“[These two markets have] strong fundamentals globally, driven by the return to travel and leisure post COVID-19.
(Reporting by Cleofe Maceda; editing by Seban Scaria)