Kuwaiti private equity firm goes for fast food

Global Investment House has acquired a firm that operates 180 fast food restaurants in the Gulf including franchises of sandwich maker Subway.

The Kuwaiti investment firm completed the acquisition of Yum Yum Tree, established in 1995, through its alternative asset management arm on behalf of the private equity funds it manages.

Since 2009, the firm’s private equity team have invested more than $300 million and returned more than $380 million to investors, says Global Investment House in a a statement.

“Unlike the fine and casual dining segments, the quick-service restaurant segment is least prone to economic volatilities and has already shown resilience in the past two challenging years for retail and especially food retail in the region,” says Sulaiman Al-Rubaie head of Global’s alternative asset management division.

Less than a month ago, Saudi Arabia’s Public Investment Fund said it had acquired an interest in another Gulf fast food group, Kuwait Food, also known as Americana.

©2016 funds global mena

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