Alamar Foods to acquire Five Guys franchisee in Saudi Arabia
The acquisition marks Alamar’s entry into the premium burger segment.
Alamar Foods has agreed to acquire AlShaghaf Arabia Limited Liability Company (Cravia Arabia Company (KSA)), the operator of Five Guys restaurants in Saudi Arabia, following the signing of a share purchase agreement.
The deal is valued at up to $22.7m (SAR 85m), with the final price tied to post-closing adjustments and the company’s performance in 2025.
The agreement still requires regulatory approvals and other conditions to be met before it can close.
Cravia Arabia, which operates 13 Five Guys outlets in Riyadh, Jeddah, Dammam, and Khobar, carries no debt and is projected to generate about $4.5m (SAR 17m) in adjusted EBITDA for 2025 under IFRS 16 accounting.
This acquisition marks Alamar’s entry into the premium burger category, reinforcing its strategy to diversify its portfolio and expand its presence in key foodservice segments.
($1 = SAR 3.75)
