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Dubai-based SNASCO Investments announced the acquisition of local hotel chain Shakespeare and Co. and its 32 stores and eight franchises in the GCC. As part of its plans, SNASCO will expand the Shakespeare brand in the GCC and beyond.
With the transaction expected to close in the coming weeks, pending final due diligence, the terms of the purchase will see SNASCO invest in taking over the rights to 32 stores and eight franchise operations in the GCC.
Over the years, Shakespeare and Co. has become an integral part of the region’s homegrown cuisine, holding a special place in the hearts of locals and tourists alike. Its unique blend of vintage charm, contemporary style and world-class cuisine makes it an ideal venue for special occasions, family gatherings and casual dining experiences.
As part of the transaction, SNASCO Investments Middle East plans to leverage its strong track record in the hotel and restaurant industry to expand the Shakespeare and Co. brand into the GCC and beyond.
SNASCO’s portfolio includes Brazil’s famous acai brand Oakberry, Saudi Arabia’s popular Outback Steakhouse Chain and UAE-based food tech startup Veggitech.
Commenting on the acquisition, Sheikh Saleh Al Sorayai, Chief Executive Officer of SNASCO Investments Middle East, said: “We are delighted to enter the final stages of acquiring Shakespeare and Co. and look forward to working closely with the team to expand the brand and deliver exceptional service to our Customers provide a dining experience.”
“This acquisition will be in line with our strategy of investing in quality businesses with strong growth potential and we believe Shakespeare and Co. is well positioned to capture the growing demand for premium casual dining experiences in the region,” he added. –trade arab news agency
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