REEF Technology (REEF), America’s leading operator of delivery kitchens, logistics, and proximity hubs, has expanded into the Middle East and North Africa (MENA) area with the entire acquisition of iKcon Restaurant in the UAE.
The technology leader expands its operations into MENA to support its growth goal and transform the region’s food industry.
REEF’s acquisition of iKcon (Innovative Kitchen Concepts) is the company’s first major deal in the MENA market, and it’s part of a larger plan to expand globally.
Mr. Tommy Rosen, Head of Development at REEF said, “The Middle East and North Africa are crucial markets in the rapidly evolving F&B and retail industries, and our acquisition of iKcon will position REEF to become a leader in the region.”
As per the statement, with a network of innovative kitchens in prime locations and over 800 employees, iKcon utilizes its modern facilities, smart technology solutions, and highly qualified chefs and customer service teams to extend the reach of its portfolio of more than 100 well-known local, regional and international restaurant partners such as Just Salad, YO Sushi, Dunkin’, California Pizza Kitchen, German Doner Kebab and local hero brands such as PINZA, and Pizza Di Rocco
“Since its inception, iKcon has consistently focused on operational excellence and building a unique customer-centric business model. The past three years have taught us the importance of pursuing our vision with commitment and passion, driven by a world-class team. Today, we are thrilled to join the REEF team and continue our journey of bringing innovation to neighborhoods everywhere. REEF’s leadership in proximity will play a great role in accelerating our regional expansion plans. We are fully committed to driving the development of REEF in MENA.”
REEF, backed by a group of investors including Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, SoftBank Vision Fund 1, funds managed by Oaktree Capital Management, L.P., UBS Asset Management, and Target Global, focuses on transforming urban spaces into proximity hubs that create jobs and bring new goods, services, and experiences to neighborhoods across the globe.
REEF has already established a presence in Abu Dhabi’s international financial center Abu Dhabi Global Market (ADGM) with intentions to expand across the region.