- Ruya Partners fund invested $15.5 million (SAR 58.1 million) in Epik Foods to support its expansion in Saudi Arabia and the UAE.
- Epik Foods manages 60 F&B brands across 50 locations, with 20 new locations in the pipeline.
- The company is backed by Gulf Islamic Investments (GII), managing $4.5 billion in assets, and was formed through the merger of three UAE food tech companies.
- The fund’s diverse portfolio includes sectors such as media, energy, fitness, and food, with an active investment pipeline for upcoming deals.
Abu Dhabi-based Ruya Partners has made a significant contribution to the regional food and beverage industry by providing $15.5 million (SAR 58.1 million) in private capital financing to Epik Foods.
This investment aligns with Ruya Partners’ mission to deliver tailored financial solutions that support the growth of mid-market companies in high-potential markets like Saudi Arabia and the UAE.
Supporting Epik Foods’ Ambitious Expansion Plans
The financing, facilitated through Ruya Private Capital I, LP, a fund managed by Ruya Partners, will enable Epik Foods to expand its operations in Saudi Arabia and strengthen its foothold in the UAE.
The investment is targeted toward funding key acquisitions, enhancing operational capacity, and providing much-needed working capital. This strategic support aims to solidify Epik Foods’ position as a leading technology-enabled omnichannel restaurant group in the region.
Epik Foods operates a diverse portfolio that includes quick-service dine-in restaurants, digital food brands, meal kits, meal plans, catering services, and partnerships with hotels and gyms. By leveraging this broad spectrum of offerings, the company addresses varying customer preferences and remains resilient in an ever-evolving market.
A Strategic Partnership Backing Epik Foods
Epik Foods was established through a partnership between KR&CO founders Khaled Fadly and Ranya Basyuni, alongside Gulf Islamic Investments (GII), a Shari’ah-compliant global alternative investment company managing over $4.5 billion in assets.
The formation of Epik Foods was marked by the merger of three prominent UAE-based food and food tech entities: Happy Platter Kitchen, Kreative Restaurant and Co., and Sweetheart Kitchen.
This strategic merger enabled Epik Foods to create a robust foundation for managing its portfolio of over 60 distinct food and beverage brands, spread across 50 locations in the UAE and Saudi Arabia.
The company has an additional 20 outlets planned for the near future, which will further diversify its market presence. Some of its most notable brands include Poke & Co., Healthy & Co., Acai & Co., and Route Beirut, catering to a wide array of culinary preferences.
Strengthening Regional Growth with Ruya Partners
The investment underscores Ruya Partners’ commitment to empowering mid-market companies through innovative financing solutions. According to Ruya Partners, this marks the fourth major investment by their fund, reinforcing their dedication to supporting high-growth markets within the GCC region.
Mirza Beg, Founding Partner of Ruya Partners, emphasized the significance of this investment. He highlighted Epik Foods’ strong and well-implemented growth strategy, which aligns perfectly with the vision shared by both Ruya Partners and Gulf Islamic Investments.
Ruya’s investment aims to unlock significant growth opportunities for Epik Foods, enabling the company to scale operations and maximize its potential in the region.
Rashid Siddiqi, another Founding Partner of Ruya Partners, elaborated on the value of collaborating with established financial sponsors like GII. He noted that GII’s strategic guidance and extensive resources have been pivotal in driving Epik Foods’ success.
Ruya Partners has over 15 years of experience investing in private capital across the region, and this transaction highlights their ability to support financial sponsor-led initiatives with a shared vision for growth.
Expanding a Diverse Investment Portfolio
Ruya Partners has diversified its investment portfolio across sectors such as media, energy, fitness, and food. Their proactive investment strategy continues to yield promising results, with more deals expected to close in the near future.
Omar Al Yawer, Partner at Ruya Partners, expressed optimism about the fund’s growing pipeline of investments, which underscores the firm’s confidence in the region’s economic potential.
Looking Ahead
Ruya Partners’ $15.5 million investment in Epik Foods reflects their shared vision of fostering growth and innovation in the region’s food and beverage industry.
This strategic collaboration is expected to accelerate Epik Foods’ expansion in Saudi Arabia and the UAE, while reinforcing Ruya Partners’ reputation as a trusted financial partner for mid-market companies.
By supporting businesses like Epik Foods, Ruya Partners continues to drive economic growth and strengthen the GCC’s position as a hub for innovation and entrepreneurship.
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Last Updated on November 12, 2024 by Safiya K
