Alamar Foods Company has signed a share purchase agreement to acquire 100 percent of AlShaghaf Arabia LLC, also known as Cravia Arabia Company, the franchisee of Five Guys in Saudi Arabia.
The transaction is valued at up to SAR85 million, subject to post-closing adjustments and performance conditions. Cravia Arabia holds the exclusive franchise rights for the brand in the Kingdom and operates 13 restaurants across Riyadh, Jeddah, Dammam and Khobar.
Alamar company said that the acquisition supports its strategy to enter the burger category within Saudi Arabia’s quick service restaurant market.
Filippo Sgattoni, CEO of Alamar Foods, further shared: "The intended acquisition of Five Guys brand aligns directly with our strategy to expand into core categories, strengthen our market position, and drive profitable growth. By entering the premium burger segment with a globally recognised brand, we are broadening our multi-brand platform and unlocking attractive long-term potential.
"With Alamar’s scale and operational expertise, we are well-positioned to elevate the Five Guys experience, enhance performance, and realise meaningful synergies. We thank Cravia Group for building a strong base for the brand in Saudi Arabia and look forward to advancing its next phase of growth under Alamar’s stewardship."
