Having raised $1.8bn in its IPO, the Kuwait-based franchise operator says there is significant potential to grow its restaurant and coffee shop brands in the Middle East and North Africa
Americana licences 2,050 food and beverage outlets across 12 countries in the Middle East and is set to open the first Peet's Coffee store in the UAE | Photo credit: Peet's Coffee
Americana Restaurants has completed its dual listing on the Abu Dhabi Securities Exchange (ADX) and Saudi Exchange after raising $1.8bn through an IPO. The Kuwait-based franchise operator will trade under the tickers ‘AMR’ and ‘Americana’ in the UAE and Saudi markets respectively.
Americana is one of the largest franchise operators in the Middle East and North Africa. Founded in 1964, the restaurant group licences 2,050 food and beverage outlets across 12 countries in the region, including KFC, Pizza Hut and TGI Friday’s, alongside a growing coffee shop portfolio.
Americana is the exclusive franchise partner for Costa Coffee in Egypt, Kazakhstan and Jordan, where it currently operates more than 70 stores. It also operates 243 Krispy Kreme stores in Egypt and Jordan and is in the process of debuting US specialty coffee chain Peet’s Coffee in the Middle East with a franchised store in the UAE.
“The successful conclusion of our IPO is the culmination of Americana Restaurants’ transformational journey, as well as a remarkable milestone for the growth and depth of the region’s financial markets,” said Americana Restaurants Chairman Mohamed Ali Rashed Alabbar at the official bell ringing ceremony at the Abu Dhabi Securities Exchange.
“ADX continues to foster collaboration across the region and is proud to play an increasingly central and pivotal role in the regional capital market landscape,” Alabbar added.
Alabbar also credited the UAE’s status as a “prime investment destination” alongside “a range of initiatives to enhance the infrastructure of the Saudi capital market” as generating significant opportunities for Americana’s “new chapter of growth.”
The UAE and Saudi Arabia currently account for 29% and 21% of Americana’s $2bn annual sales respectively and have become key markets for western food and beverage brands seeking growth in the Middle East.
World Coffee Portal shows the Saudi branded coffee shop market grew 18.5% over the last 12 months to exceed 3,550 outlets, making it by far the largest in the region. Meanwhile, the UAE has a highly developed hospitality segment geared towards large expat and tourist populations, but also an increasingly engaged domestic consumer base.
The total Middle East and North Africa market grew 10.5% over the last year to exceed 8,800 outlets, with World Coffee Portal forecasting the total segment will exceed 9,190 outlets by 2027.