Financing

Big Middle East Domino’s operator Alamar Foods plans a Saudi IPO

The company also operates Dunkin’ locations. U.S. private equity firm The Carlyle Group plans to sell its shares in the company.
Domino's Saudi ipo
Photograph: Shutterstock

Alamar Foods, a big Domino’s operator with more than 500 locations in the Middle East, North Africa and Pakistan, is planning an initial public offering on the Saudi Exchange, the company said on Thursday.

The Carlyle Group, a U.S. private equity firm, plans to sell some 10.6 million shares of the company, representing nearly 42% of Alamar Foods’ shares.

The Riyadh-based Alamar is Domino’s master franchisee in 16 countries. It also operates Dunkin’ locations in Egypt and Morocco.

Alamar has been a quick-service brand operator for more than 30 years and has integrated both its brands into local culture. The company is also expanding well beyond Saudi Arabia—more than half its locations are now outside the country, up from 20% a decade ago.

“The IPO represents an important step in the growth journey of Alamar, enabling the company to capitalize on the strong momentum in the regional QSR sector and create further headroom for innovation and deepen our presence in-market,” Ibrahim Abdulaziz Aljammaz, Alamar’s chairman, said in a statement.

Domino’s uses large, master franchisees to develop its locations internationally, managing entire markets and overseeing many of the aspects of the franchise, including picking franchisees for those markets. A number of them, such as Europe master franchisee DP Eurasia and the U.K.-based Domino’s Pizza Group, are already publicly traded.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

At Papa Johns, delivery shifts from its own apps to aggregators

The Bottom Line: The pizza delivery chain’s business with companies like Uber Eats and DoorDash is thriving while its own delivery is slowing. But this isn’t the beginning of the end of self-delivery, CEO Rob Lynch says.

Topics

How the shift to counter service has changed Steak n Shake's profitability

The Bottom Line: Sardar Biglari, chairman of the chain’s owner Biglari Holdings, details how the addition of kiosks and counter service has transformed restaurants.

Food

Grand Geneva Resort & Spa's 'Ouisconsin' croissants reflect the state's French legacy

Behind the Menu: Hyper-local Wisconsin ingredients and a three-day baking process turn out pastries that are in high demand by hotel guests.

Trending

More from our partners