This strategic initiative aims at strengthening Eataly’s presence in the Middle East
Investindustrial, a leading European investment group and the Azadea Group, a renowned retail company that owns and manages more than 40 international franchises across the Middle East and Africa, have announced that Eataly, a portfolio company of funds managed by Investindustrial and the Azadea Group have signed a strategic memorandum of understanding (MoU).
The announcement of the MoU came within the context of the recent opening of Villaggio Italia in Jeddah celebrating the arrival of Amerigo Vespucci, the iconic tall ship of the Italian Navy and signing took place in the presence of Valentino Valentini, Deputy Minister at the Italian Ministry of Enterprise and ‘Made in Italy’.
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 to the Gulf Cooperation Council countries, which have experienced significant growth in interest in Italian cuisine and high-quality culinary experiences.
Partnership
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.
Eataly’s expansion plan includes opening up to 40 new stores across the region, including airport concessions, as well as distributing Eataly-branded products.
Strategic 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,” commented Andrea C. Bonomi, Chairman of the Advisory Board, Investindustrial.
“Together with Investindustrial, we aim to accelerate Eataly’s development in the Gulf countries to contribute to the brand’s internationalisation process worldwide,” remarked Said Daher, Chief Executive Officer, Azadea Group.
Since its founding, Investindustrial has invested in over 300 companies, supported by a team of more than 200 professionals across eight global offices, a press communication concluded.
