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Dubai-based Snasco Investments has announced the acquisition of a majority stake in local hotel chain Shakespeare and Co.
With the deal expected to close in the coming weeks, pending final due diligence, the terms of the purchase will see Snasco Investments take over the rights to 32 stores and eight franchise operations in the GCC.
Following the closing 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 in the GCC and beyond. Snasco’s portfolio includes world-renowned Brazilian acaiberry brand Oakberry, Saudi Arabia’s popular Outback Steakhouse Chain and UAE food tech start-up Veggitech.
Integral part
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 the ideal venue for special occasions, family gatherings and casual dining experiences.
Sheikh Saleh Al Sorayai, CEO of Snasco Investments Middle East, said: “We are delighted to be entering the final stages of acquiring Shakespeare and Co and look forward to working closely with the team to expand the brand and deliver an exceptional dining experience to our customers.”
He added: “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 U.S. region.”
Expand the scope of
With Snasco Investments Middle East acquiring a majority stake in Shakespeare and Co, the restaurant chain is poised to further expand its reach and bring exceptional dining experiences to more customers in the region. With their original and iconic status, Shakespeare and Co is sure to continue delivering great food and memorable experiences for years to come.
The transaction is subject to customary closing conditions, including regulatory approvals. — trade arab news agency
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