Dubai-based SNASCO Investments has announced its acquisition of homegrown hospitality chain, Shakespeare and Co. along with its 32 stores and eight franchise businesses in the GCC.
As part of the transaction, SNASCO Investments Middle East plans to expand the Shakespeare and Co. brand across the GCC and beyond, leveraging its strong track record in the hospitality and restaurant industries.
According to the statement, “With the transaction expected to be completed in the coming weeks, pending final due diligence, the procurement terms will see SNASCO investments take over the rights to the 32-store and 8-franchise business across the GCC.”
The transaction is subject to customary closing conditions, including regulatory approvals.
The company stated that, “As SNASCO Investments Middle East acquires a majority stake in Shakespeare and Co., the restaurant chain is poised to expand its reach even further, bringing its exceptional dining experiences to even more customers across the region.”
SNASCO’s portfolio includes Oakberry, a famous Brazilian acai berry brand, the popular Outback Steakhouse Chain in Saudi Arabia, and Veggitech, a UAE-based food tech startup.
Commenting on the acquisition, Sheikh Saleh Al Sorayai CEO of SNASCO Investments Middle East, said that, “We are excited to be in the final stages of acquiring Shakespeare and Co. and look forward to working closely with the team to expand the brand and deliver exceptional dining experiences to our customers.”
“The acquisition will be in line with our strategy of investing in high-quality businesses with strong growth potential, and we believe that Shakespeare and Co. are well-positioned to capture the growing demand for high-quality casual dining experiences in the region,” the CEO further added.