Kitopi announces the acquisition of leading F&B group AWJ

• We are pleased to announce the acquisition of AWJ, a UAE incorporated company and the operating business unit of a specialized F&B fund, managed by its Investment Manager, Food Services Management Limited

• AWJ’s unique concepts were created and developed by Co-Founding Director Mr Manhal Naser who since incorporation acted as the Group’s CEO. Co-Founding Director Mr Tamer Bazzari, chaired the corporate vehicle of the fund and the Investment Manager

• It operates iconic brands such as Operation Falafel, Catch 22 and Awani amongst others

• The leading F&B group spans across the UAE and KSA with franchises in New York and London

• Kitopi operates over 100 brands across over 200 locations across the GCC region

• Formerly a cloud kitchen, Kitopi today operates in the delivery and dine-in space

• In 2021, Kitopi became the first Middle Eastern company to get funded by Softbank, marking its milestone as a unicorn

Dubai, UAE, March 1st, 2023 - Kitopi, the world’s leading tech-powered, multi-brand restaurant, announced today that it has acquired leading F&B group - AWJ, in one of the largest F&B transactions of the GCC region.

A highly successful Dubai-founded F&B group, AWJ is the holding company behind hugely popular delivery and dine-in brands such as Operation Falafel, Catch 22, Awani, Sushi Do and more. AWJ’s unique concepts were created and developed by Co-Founding Director Mr Manhal Naser, who since incorporation acted as the Group’s CEO. Co-Founding Director Mr Tamer Bazzari chaired the corporate vehicle of the fund and the Investment Manager. The group opened its first outlet in Dubai in 2014, and has since expanded its portfolio to more than 10 brands (delivery and dine-in), and 32+ outlets across the UAE and KSA. Today, Operation Falafel serves over 2 million customers globally, per year. AWJ also has franchises in New York and London, and is headquartered in Dubai, UAE with over 1300 employees.

The acquisition announcement comes as part of Kitopi’s continued strategy to invest in and grow, much-loved regional brands and take them global, as it continues to dominate the F&B space. Primarily known as a cloud kitchen, today Kitopi defines itself as a tech-powered, multi-brand restaurant with over 100 brands, operated in 200+ locations across 5 markets.

The deal which occurred for an undisclosed amount, will see the AWJ group of brands eye expansion in new markets where Kitopi has a solidified presence and a vast network of locations, unlocking new opportunities and access to more customers.

AWJ will also benefit from Kitopi’s pioneering tech SKOS (Smart Kitchen Operating System), one of the founding factors for the company’s early success.

On the acquisition, Manhal Naser, Group CEO and Co-Founding Director said, “It has been an honour to establish, lead and work so closely with the AWJ team whom I consider as family. We have built on our core fundamentals, raising the bar and setting the business up for a sustainable future - thanks to our 1300+ team champions, our supporting shareholders, the unique brands we have created, and the millions of consumers we serve. It is now time for a new chapter and having worked closely with Kitopi and Mohamed Ballout, the co-founder and CEO, I believe they are best positioned to take AWJ to the next level.”

Mohamad Ballout, CEO and Co-founder of Kitopi commented, “With a purpose to satisfy the world’s appetite to create joy, we always strive to bring the best to our customers. To this end, we are incredibly proud to have acquired AWJ and its portfolio of brands. The co-founders and leaders of AWJ have done a remarkable job in building its iconic brands and bringing them across borders. AWJ have built some of the region’s much-loved brands, and it is going to be a privilege to continue to innovate, elevate and expand its success.”

While AWJ will welcome a new CEO, AWJ will retain their original team that led to its success, and operate as a separate vertical to Kitopi’s on-demand business.

Founded in Dubai, UAE, in January 2018, Kitopi has 5000+ employees, and has offices in KSA, UAE, Kuwait, Qatar and Bahrain. It also operates its engineering hub in Krakow, Poland, its global customer experience center in Dubai, UAE, and its Robotics Hub in Odense, Denmark.

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To learn more, visit: www.kitopi.com

For press inquiries: stacey@kitopi.com

ABOUT KITOPI

Founded in Dubai, UAE, in January 2018, Kitopi’s mission is to satisfy the world’s appetite. As a leading tech-powered multi-brand restaurant, Kitopi operates a portfolio of both owned and franchised F&B brands, serving as enablers in the food market by helping brands to grow and scale - both in the delivery and dine-in space.

With over 5,000 employees, Kitopi currently operates 200+ outlets (delivery and dine-in) across the UAE, KSA, Kuwait, Bahrain and Qatar, and runs its engineering hub in Krakow, Poland, its global customer experience center in Dubai, UAE, and its robotics hub in Odense, Denmark