Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the UAE listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), announces that it has acquired an interest in Nammos Group as a result of its joint venture partnership with Monterock International, an international investment company with a focus on hospitality and food and beverage (F&B) sectors.
This partnership marks the evolution of Alpha Dhabi’s luxury and lifestyle vertical which will focus on building a portfolio and driving the development of brands by scaling their reach, diversifying their offering and catalysing their growth.
Nammos – a globally celebrated lifestyle and F&B brand synonymous with luxury and quality – has seen strong success in its expansion to date. Its Dubai restaurant ranks as one of the top performing restaurants in the world and it will be a cornerstone brand in the lifestyle portfolio.
The partnership will see the development of the Nammos World projects, an ambitious and scalable plan to extend Nammos’ reach and footprint globally as well develop and diversify its offering as it continues to build on its status as a premier and luxury hospitality and F&B brand.
Commenting on the announcement, Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said: “Through the growth Alpha Dhabi has exhibited over the last year, we have demonstrated a sustained and proven ability to generate expansion and investment opportunities, which are driving new revenue streams and creating greater shareholder value. We see strong potential for the expansion of our platform into the F&B and wider lifestyle space, both of which are markets with strong fundamentals globally driven by the return to travel and leisure post COVID-19. Our expansion into this space confirms of our ambition to assemble a portfolio of leading luxury and lifestyle brands and we are excited to embark on this journey with Monterock.”
“The addition of these assets and brands to our current portfolio which includes Cheval Blanc - Maldives, will be immediately value-accretive to our diversified platform and showcase our commitment and ambition to driving value and brand recognition across our portfolio. As a major investor, we are also uniquely placed to drive growth by deploying an active approach to deal origination and asset management, leveraging our expertise, portfolio of operating companies – including hospitality assets – and platform to bolster growth further as we continue to build on the complementary-based focus of our deal sourcing and investment approach.”
The lifestyle vertical and portfolio will go beyond investments in the F&B sector and aims to build a world-class portfolio of lifestyle, luxury, hospitality, F&B and entertainment brands that can complement each other, allow for cross-selling and integration across the platform and provide a truly unique value proposition to brands looking to accelerate their expansion and growth.
Following this announcement, the joint venture intends to assess further opportunities through the newly set up F&B vertical as it seeks to increase its allocation across the sector with ambitions to be the partner of choice to leading lifestyle and F&B brands looking to amplify their reach and scale their footprint globally.
Petros Stathis, Chairman of Monterock International Limited, added: “We are delighted to announce the successful completion of this partnership and to build on the strong bond with Alpha Dhabi, a leading conglomerate in the region. The partnership marks a new milestone in our history and it’s a strong vote of confidence in the Monterock team and especially in its Nammos World projects. I would therefore like to thank the founders of the acclaimed Nammos brand. Over the past decade of our growth journey, MonteRock International has been marking its own path through a growing multi-brand portfolio focused on the upper-segment of the leisure and lifestyle markets and we are excited to expand this success further on a greater scale globally. This Joint Venture will position our business for accelerated growth in the coming years and we look forward to working together with Alpha Dhabi Holding as we begin our journey to create the world’s leading hospitality and F&B projects."
With flagship locations in Mykonos and Dubai as well as soon-to-open venues in London, Cannes, and Abu Dhabi, Nammos’ plans for global expansion are ambitious – and in line with Alpha Dhabi’s wider plans – and include bringing the world-class, holistic and luxurious end-to-end guest experiences that they are famed for – as leaders in the hospitality and F&B fields – to locations around the world.
Source: Brunswick Group