Al Masah Capital subsidiary to own and manage UAE and Oman outlets
Dubai, UAE, 25 June, 2015
Al Masah Capital is pleased to announce that its Food & Beverage Private Equity platform, Diamond Lifestyle Limited ("DLL"), has acquired Al Faris Restaurant LLC ("Al Faris"), a UAE-based restaurant company that owns and operates as a Johnny Rockets Franchisee in the UAE and Oman.
Johnny Rockets is an international restaurant franchise established almost 30 years ago in the state of California in the belief that everyone deserves a place where they can escape from today's complicated world and experience the uncomplicated goodness of classic Americana. The restaurants offer all-day dining, serving hamburgers, chicken and steak sandwiches, appetizers, fries, salads, shakes and desserts.
Al Faris Restaurant LLC launched its first Johnny Rockets restaurant in the UAE in 1996 in Jumeirah, Dubai. Today, Al Faris operates 14 restaurants across the United Arab Emirates of which eight are in Dubai, four in Abu Dhabi and two in Ras Al Khaimah. In addition to food court seating, the company's current restaurants accommodate more than 1,100 seats spread over 296 tables. Johnny Rockets restaurants are extensively present across the UAE in malls, high street locations and tourist areas.
In relation to the acquisition, Shailesh Dash, Founder and CEO of Al Masah Capital and Chairman of Diamond Lifestyle commented, "Owning a global and reputable brand such as Johnny Rockets enhances our strategic profile and provides our company with a concrete foundation to reap the benefits of the lucrative hamburger market in the region. We are delighted to have added another landmark transaction to our rapidly growing portfolio of brands."
Amitava Ghosal, Partner of Al Masah Capital and Director of Diamond Lifestyle added, "Our acquisition of Al Faris Restaurant complements our vision and further strengthens our platform offerings and extends our presence into the casual food-service market. We look forward to expanding the Johnny Rockets footprint in the UAE and Oman."
"We are pleased to join forces with Al Masah Capital, a highly regarded partner who shares our vision and commitment to the MENA region. We are confident that this partnership will further promote the Johnny Rockets brand and expand our reach to customers wishing to indulge in our original, legendary hamburger experience," said Scott Chorna, Senior. Vice President of International Development for Johnny Rockets.
About Johnny Rockets
Johnny Rockets is an international restaurant franchise that offers food and fun reminiscent of feel-good Americana. Every Johnny Rockets restaurant serves simple, great-tasting food from a menu of all-American favorites, including made-to-order hamburgers, crispy fries and rich, delicious hand-spun shakes and malts. This dynamic lifestyle brand offers friendly service, upbeat music and dancing servers, contributing to the chain's signature atmosphere of relaxed, casual fun. There are over 330 Johnny Rockets corporate and franchise-owned restaurants in 32 states and 26 countries on five continents, including 17 Six Flags amusement park locations and 11 Royal Caribbean cruise ships.
The Johnny Rockets brand is well represented in the GCC, operating 35 franchised restaurants across the UAE (14), Kuwait (10), Saudi Arabia (4), and Bahrain (3). The business model is successful in a variety of footprints and a wide range of venues ranging from 500 to 2,500 square feet.
For more information, please visit www.johnnyrockets.com
About Diamond Lifestyle Limited
Diamond Lifestyle is a hospitality company that will develop, manage and operate a portfolio of high-energy restaurants and lounges, as well as luxury catering services, with a focus on the GCC, Turkey and South-East Asia. The company was established in 2013 with the vision of becoming the market leading lifestyle platform in the hospitality industry by combining service, ambience and cuisine into a fantastic overall customer experience. In addition to the Johnny Rockets brand, Diamond Lifestyle operates two other franchises in the UAE namely Café Rouge and La Porte des Indes.
The team at Diamond Lifestyle has over 200 years combined experience in the hospitality sector. Coupled with the growth potential of these regions, the team is well placed to both provide a great experience for their customers while also generating good returns for investors. DLL operates across the following sectors: Fine Dining, Casual Dining, Cafes, QSR and Catering.
About Al Masah Capital Limited
Al Masah Capital, established in Oct-2009, is one of the fastest growing alternative investment management firms in the MENA & SE Asia region providing tailored solutions for its broad client base offering private equity (across Healthcare, Education, Food & Beverages, Logistics and other consumer driven sectors), asset management, corporate and real estate advisory as well as public market research services; Over the last 4 years, Al Masah Capital has successfully raised over $1bn, and has established itself as a leading asset management firm.
© Press Release 2015