Investindustrial, a leading European investment group, has announced plans to open 40 new outlets of its culinary market Eataly across the Middle East region - including airport concessions - at a total inveestment of €100 million ($104.3 million). 

 

Investindustrial, which boasts over €16 billion ($16.6 billion) in raised fund capital, has signed a programmatic MoU with Azadea Group, a renowned retail company that owns and manages more than 40 international franchises across the Middle East and Africa, outlining the principles of a transaction to assume direct control of the Eataly’s business in the Middle East, currently managed by Azadea under a franchising agreement. 

 

Eataly currently operates stores in major cities across the region, made possible through its partnership with Azadea, which will remain a significant shareholder and will continue managing Eataly’s operations in the Middle East. 

 

The announcement of the MOU came within the context of the opening of Villaggio Italia in Jeddah celebrating the arrival of Amerigo Vespucci, the iconic tall ship of the Italian Navy. The signing took place in the presence of the Deputy Minister of Enterprise and Made in Italy, Valentino Valentini.

 

This strategic initiative, following the inauguration of Investindustrial’s new office in Abu Dhabi, aims at strengthening Eataly’s presence in the Middle East, with particular focus on the GCC countries, which have experienced significant growth in interest in Italian cuisine and high-quality culinary experiences. 

 

Eataly’s expansion plan includes opening up to 40 new stores across the region, including airport concessions, as well as distributing Eataly-branded products, it stated.

 

Andrea C. Bonomi, Chairman of the Advisory Board of Investindustrial, said: "This agreement demonstrates our commitment to supporting excellent Italian companies in their international growth. Eataly will benefit from strategic and financial resources to accelerate its development and bring its unique offerings to new, sophisticated consumers."

 

"We are proud to establish a partnership with Azadea and look forward to further developing Eataly together in the region. Expanding in this strategic region not only allows us to bring the best of the “Made in Italy” to a market with significant growth potential but also fosters a cultural dialogue that enhances tradition, innovation, and sustainability, which are at the heart of the values upheld by the companies in our portfolio," he stated.

 

Said Daher, Chief Executive Officer of Azadea Group, said: "The GCC represents a strategic market where quality, tradition, and innovation are highly valued. We strongly believe that Eataly can become an even more significant reference for local consumers, while maintaining the authenticity and sustainability values that distinguish the brand."

 

"Together with Investindustrial, we aim to accelerate Eataly’s development in the Gulf countries to contribute to the brand’s internationalisation process worldwide," he stated.

 

Investindustrial specialises in partnering with family-owned businesses and corporations that operate niche, globally relevant brands with significant growth potential. 

 

Since its founding, Investindustrial has invested in over 300 companies, supported by a team of more than 200 professionals across eight global offices. Currently, the portfolio includes 29 companies generating total revenues of over €18 billion, ready to capitalise on the opportunities offered by the GCC countries. 

 

Several of Investindustrial’s flagship assets already have a growing presence in the region, including the Italian luxury fashion group Ermenegildo Zegna, Italian culinary marketplace Eataly, Omnia Technologies, a leading platform for automation and bottling technologies, and Flos B&B Italia Group, a global leader in high-end design.-TradeArabia News Service