Burgerfuel Partner Snaps Up Kuwait As 2nd Country
BurgerFuel Worldwide (BFW) has today announced its Master Licence partner for BurgerFuel Kuwait.The rights for the brand in Kuwait will be operated by Al Khayyat Investments (AKI).
AKI was the first company in the Middle East to sign a Master Licence for BurgerFuel, when it acquired the rights to the UAE. AKI currently operates 5 BurgerFuel stores in Dubai and has another 8 sites under construction or scheduled to open in the next year. Farah George Farah, General Manager of F&B at AKI says “BurgerFuel is a marquee brand within our F&B portfolio and we are excited about this new opportunity for us to secure BurgerFuel Kuwait. We are also reviewing other countries in line with our regional aspirations and possibly extending our territories with BurgerFuel Worldwide in the future”.
AKI was originally founded in 1982 as Alphamed General Trading LLC. The company now has a turnover exceeding $700 million, 2500 members of staff and a portfolio of over 100 partner companies and brands including Superdry, Peugeot, Lavazza, Durex, Fila, Mazda and the operating rights for BurgerFuel in the UAE and Kuwait.Kuwait has a population of over 3.5 million people and has the world’s 5th largest oil reserves. The World Bank has also rated Kuwait as being the 5th richest nation in the world per capita. Bordered by Iraq to the North and Saudi Arabia to the South, where BurgerFuel has already opened stores, Kuwait has eagerly awaiting fans that have travelled to the neighbouring BurgerFuel territories as well as to Dubai in the UAE.
Chris Mason, BurgerFuel CEO for International Markets says “It’s great to see our original partners in the Middle East, Al Khayyat Investments, wanting to build on the success they have had with BurgerFuel in the UAE and to acquire a second BurgerFuel country.This is further recognition of the BurgerFuel success in the region and its growing reputation as an international company.”
BurgerFuel currently has stores in the UAE, Saudi Arabia and Iraq. Further Master Licence agreements, in addition to Kuwait, are already in place for Egypt, Qatar, Libya and Bahrain.
BurgerFuel Worldwide Ltd (BFW) is a NZAX listed company and is part of the exclusive NZ Trade & Enterprise Beachheads programme designed for high-growth NZ companies. BFW shares are currently trading at $1.07.