Abu Dhabi: Abu Dhabi based investment company, SANAD AD has today announced a minority investment in local food and beverage company Slices.
The strategic new partnership is expected to help Slices in its continuing crusade to provide wholesome, nutritious meals within the education sector, across schools in Abu Dhabi, Al Ain, Dubai and Sharjah--improving the health of the next generation by reversing the rise of chronic lifestyle diseases such as diabetes. The company received initial funding support from the Khalifa Fund for Enterprise Development (KFED).
Faisal Al Hammadi, Chief Executive Officer (CEO), Slices, said, “We are very excited with this new partnership that we have forged with SANAD AD, which is a result of years of studying the market--understanding its challenges and developing solutions that will allow our business model to remain competitive in the market and continue to grow Year-on-Year. The investment from SANAD AD will now give us the key ability of moving on to the next phase of our strategy, which entails expanding our presence across the UAE and later throughout the GCC market.”
Kamal Raza, Director of Investments at SANAD AD explains that there is an alignment of core values between SANAD AD and Slices, in the provision of healthy outcomes for children.
“Our investment in Slices reinforces our focus on community health and playing our part in providing high quality health resources to residents and nationals of the UAE,” explains Kamal.
Meanwhile, Abdullah Al Darmaki, CEO, KFED, extended his congratulations to Slices on its latest achievement. He shared that the latest development is just one of the many success stories of SMEs that the Fund has helped start up over the years.
“We are truly proud of Slices and their new investment partnership with SANAD AD. Their success reflects KFED's strong commitment towards promoting a culture of entrepreneurship among Emiratis and encouraging growth and development across local SMEs. Rest assured that we will continue to support companies like Slices and help them become key contributors to the UAE's economic growth,” concluded Al Darmaki.
About SANAD AD
SANAD AD is an Abu Dhabi-based investment development company dedicated to building a portfolio of businesses, currently within the healthcare, hospitality and real estate sectors, through recognized brands such as Snö healthcare, Meshwari, Dickey’s and Plaza 30.
As well as delivering our organic business ideas and concepts, SANAD AD seek out partners to transform shared visions into reality. From inception to rollout, SANAD AD’s multi-disciplinary team enables our businesses to penetrate both local and global markets.
Slices is a homegrown food and beverage company based in the UAE that is focused on transforming eating habits across the UAE through providing wholesome, nutritious meals to school children.
Slices focus is to facilitate students’ access to safe, healthy, and balanced food options in schools. Believing, that educating tomorrow’s healthy eaters starts today, they channel their commitment to ingraining a culture of healthy eating into students at a tender age into a number of innovative methods, interactive programs, and initiatives.
Beginning operations in 2012, Slices has benefited from continued business support and mentorship from the Khalifa Fund, sharing a joint focus in creating a healthier environment for children in the United Arab Emirates.
About Khalifa Fund
Khalifa Fund was established in June 2007 by the virtue of the (Law 14 of 2005), as an independent, Not for Profit Small and Medium Enterprises (SMEs) Socio Economic Development agency of the Government of Abu Dhabi. The purpose of establishing the fund is to help develop local enterprises in Abu Dhabi by instilling and enriching the culture of investment amongst UAE nationals, as well as supporting and developing small to medium-sized investments in the Emirate. Khalifa Fund started with a total capital of AED 300 million, which was gradually increased to AED 2 billion and covering all the UAE.
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© Press Release 2018