Foursan Group, a leading Middle Eastern private equity firm, has acquired through its fund Foursan Capital Partners I a 37% stake in ATICO—Fakhreldin Group (“ATICO”), Jordan’s leading hospitality and food and beverage company.
Since its inception in 1991, ATICO has expanded its reach and core business from investing in one premier 4-star boutique hotel, Al Qasr, to encompass a catering service, an events management company and over 12 leading restaurants, cafes and outlets that offer a variety of regional and international cuisines which target a diversified and broad customer base. These outlets include Fakhreldin (Arabic), Yoshi (Japanese), Vinaigrette (Sushi/International), Ren Chai (Chinese), Oobé (International), Trattoria (Italian), Bistro One (International/French) and Kebab Express (Arabic).
The investment by Foursan will be used to fund local and regional expansion to leverage ATICO’s market-leading brand and expertise to grow and diversify the group’s revenue streams.
Nashat T. Masri, a Founding Partner at Foursan, said: “We are delighted to partner with the Fakhreldin family on this important transaction. ATICO has established itself as Jordan’s leading multi-service hospitality and food and beverage company, and we have been impressed for many years with its unique vision and strong management team. We look forward to working closely with the ATICO management team to further grow the company’s reach and footprint, both locally and regionally.”
The Chief Executive Officer of ATICO, Essam Fakhreldin, added: “ATICO was founded over two decades ago based on the passion and dedication of the Fakhreldin family to providing customers with distinctive service and sumptuous food. We believe the future will be very bright for ATICO and we look forward to working closely with Foursan to leverage their deep expertise to continue to expand our product offerings.”
Foursan joined ATICO’s Board of Directors and holds two of the company’s five board seats.