Investindustrial, a leading European investment group with over €16 billion in raised fund capital, and 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 S.p.A. – a portfolio company of funds managed by Investindustrial – and Azadea Group have signed a programmatic memorandum of understanding outlining the principles of a transaction (“MOU”) to assume direct control of the Eataly’s business in the Middle East, currently managed by Azadea under a franchising agreement.
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 and 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 to the Gulf Cooperation Council (“GCC”) countries, which have experienced significant growth in interest in Italian cuisine and high-quality culinary experiences. 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.
Andrea C. Bonomi, Chairman of the Advisory Board of Investindustrial, commented: “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.”
Said Daher, Chief Executive Officer of Azadea Group, added: “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.”
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.
Investindustrial’s activities represent a concrete example of how private capital can act as a catalyst for economic development, aligning with the strategic objectives of the region.
Investindustrial has a strong track record across sectors, with deep expertise in industrial manufacturing and sub-sectors like food security, a critical priority for the GCC. Over the years, Investindustrial has built an excellent platform valued at over €8 billion, comprising companies active in special ingredients, private label products, pastries, and frozen foods, including Sammontana, Forno D’Asolo, La Doria, and CSM Ingredients. The firm is well-positioned to support innovation and contribute to sustainable growth in the Gulf.
