Cairo – Mubasher: Longreen Capital Advisors (LCA) has acquired the Cairo-based Egyptian International Restaurants Company (EIR), the operator of El Omda restaurants chain and other Egyptian restaurants that target the middle class.
The founders and current management of the EIR will retain significant equity positions in the company, Longreen Capital added in a statement.
“EIR will continue to drive the business in the coming period, assisted by new additions recruited from Longreen’s network into key operating and advisory roles,” the company continued.
“This is an exciting first chapter for Longreen to acquire and support the growth of an iconic brand such as El Omda and take it to where it belongs on a national and potentially regional level,” Heba Ayad, Longreen’s founder and managing partner said.
“The consumer food market is showing solid growth and Longreen is eyeing this sector closely through a buy and build strategy. Longreen is currently assessing a number of consumer-facing opportunities and aim to close two more within the next 18 months,” Ayad noted.
Moreover, Ahmed Farouk, Longreen’s founder and managing partner said: “We target businesses with strong brand equity and predictable cash flows,” adding that “El Omda is a household name that speaks to a wide generation”
LCA is a middle-market private equity management firm established in 2017 and whose founders are Heba Ayad and Ahmed Farouk.
