Jadwa Investment KSA acquires Black Spoon Group

Jadwa Investment KSA acquires Black Spoon Group

Allo Beirut reveals its first-ever location in Abu Dhabi

Based in Riyadh, Jadwa Investment KSA has successfully secured full ownership of Black Spoon via its food and beverage opportunities fund.

Over the years, Black Spoon has developed several concepts. For instance, it transformed Ibn AlBahr into one of the most sought-after seafood experiences. Additionally, it introduced Allo Beirut in Dubai and Abu Dhabi, establishing it as a favorite Lebanese street food spot. Furthermore, it played a key role in the growth of Masti and Bombay Bungalow.

Inspired by Beirut’s street food culture, Allo Beirut had successfully opened two locations in Abu Dhabi by the end of 2022. Introduced in 2018 by Black Spoon Group, it became the brand’s fourth UAE location after gaining popularity in Dubai at Hessa Street, City Walk and Al Warqa City Mall. The group later initiated expansion plans throughout the GCC. The goal is to franchise more than 30 new Allo Beirut outlets across the region in the next five years, primarily in Saudi Arabia.

The recent acquisition marks the company’s second acquisition in the consumer sector this year. It previously purchased a 35 percent stake in Gissah Perfumes Company.

Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, said: “This investment is an extension of our strategy. Thus, we aim to capitalize on the increasingly attractive consumer sector across the GCC. Furthermore, we’ve begun to reap the fruits of transformational government initiatives. As well as the impact of a young and growing population and rising income levels.”

Jadwa Investment oversees SAR 75 billion (USD 20 billion) in client assets across public equity, private equity, real estate, private credit, fixed income and money market investments.


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Rita Ghantous

Rita Ghantous is a hospitality aficionado and a passionate writer with over 9 years’ experience in journalism and 5 years experience in the hospitality sector. Her passion for the performance arts and writing, started early. At 10 years old she was praised for her solo performance of the Beatles song “All My Love” accompanied by a guitarist, and was approached by a French talent scout during her school play. However, her love for writing was stronger. Fresh out of school, she became a freelance journalist for Noun Magazine and was awarded the Silver Award Cup for Outstanding Poetry, by The International Library of Poetry (Washington DC). She studied Business Management and earned a Masters degree from Saint Joseph University (USJ), her thesis was published in the Proche-Orient, Études en Management book. She then pursued a career in the hospitality industry but didn’t give up writing, that is why she launched the Four Points by Sheraton Le Verdun Newsletter. Her love for the industry and journalism led her to Hospitality Services - the organizers of the HORECA trade show in Lebanon, Saudi Arabia, Kuwait and Jordan, as well as Salon Du Chocolat, Beirut Cooking Festival, Whisky Live and other regional shows. She is currently the Publications Executive of Hospitality News Middle East, Taste & Flavors and Lebanon Traveler. It is with ultimate devotion for her magazines that she demonstrates her hospitality savoir-faire.

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