UAE – November 14, 2024 – Epik Foods, the pioneering UAE-based F&B group known for its continuous innovation in the industry, has secured $15.5 million (SAR 58.1 million) in private capital funding from Ruya Private Capital I, LP, a fund managed by Ruya Partners. This investment marks a significant step in Epik Foods’ ambitious growth strategy, fueling key acquisitions and providing vital working capital to support the company’s diverse portfolio and innovative concepts. The funding will also bolster Epik Foods’ expansion into Saudi Arabia and further solidify its presence in the UAE.
Founded by Khaled Fadly and Ranya Basyuni, Epik Foods has quickly emerged as a leader in the region’s food and beverage sector. The group was formed in 2023 through the merger of three prominent F&B players—KR&CO, Sweetheart Kitchen, and Happy Platters Kitchens – in partnership with Gulf Islamic Investments (GII), a leading Shari’ah-compliant global alternative investment firm managing over $4.5 billion in assets.
Epik Foods currently manages a dynamic portfolio of 60 F&B concepts across 50 locations in the UAE and Saudi Arabia, with an additional 20 locations in the pipeline. The company’s offerings include quick-service dine-in restaurants, digital brands, meal kits, meal plans, catering services, and hotel/gym partnerships. With well-established brands such as Poke & Co, Healthy & Co, Acai & Co, and Route Beirut, Epik Foods is well-positioned to meet the growing demand for high-quality, innovative food solutions, cementing its status as a leader in the Middle Eastern F&B industry.
Khaled Fadly, CEO and Co-founder of Epik Foods, said “We are truly excited to have the backing of Ruya Partners as we embark on this pivotal phase of our growth. This investment not only strengthens our ability to expand across Saudi Arabia and the UAE but also supports key acquisitions that will enhance our portfolio. Our approach to brand innovation and conceptual development has been central to our success, and with this funding, we are positioned to further elevate our brands and reach new communities. This marks an exciting milestone for Epik Foods as we continue to drive innovation, growth, and operational excellence across the region.”
“Epik Foods has demonstrated a clear and well-executed growth strategy, and GII has been a crucial partner in Epik Foods’ journey. We are excited to support Epik Foods as they scale their operations and capture the immense potential in the region” said Mirza Beg, Founding Partner of Ruya Partners.
The GCC’s F&B market is poised for strong growth, with a compound annual growth rate (CAGR) of 7.5%, driven by rising disposable incomes, evolving consumer preferences, and an increased focus on health and wellness. The UAE and Saudi Arabia, in particular, offer substantial growth opportunities, underpinned by an increasingly young population and expanding middle class seeking diverse, high-quality dining options. Epik Foods is strategically positioned to capitalise on this growth through its tech-enabled, omnichannel model, which serves both dine-in and online delivery customers, along with meal plans and catering services via its extensive network of cloud kitchens. This investment will allow Epik Foods to accelerate its expansion and capture an even larger share of the region’s thriving F&B market.
Addleshaw Goddard (Middle East) LLP advised Ruya Partners’ fund on this transaction. Epik foods was advised by DWF (Middle East) LLP.
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