Refreshment focuses on the water dispenser/cooler, office coffee service and vending sectors, while also taking an in-depth look into products for vending from bottled water and drinks, to snacks and confectionery. It also focuses on hydration, health and wellness, new technologies and environmental and social responsibility issues.
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According to Reuters, the AlShaya Group, a multinational retail franchise operator headquartered in Kuwait, has paused its efforts to sell a minority stake in its Starbucks franchise, which operates across the Middle East, North Africa and Central Asia, due to ongoing geopolitical unrest and consumer boycotts in the region.
Sources familiar with the situation revealed that these factors are complicating bidders' ability to accurately assess the business's value. AlShaya, which has been looking to offload approximately 30% of its stake in a process referred to as "Project Emerald," is not in a hurry to finalise the sale.
Reuters reported that while interest has been expressed from major players, including US private equity firm Apollo Global Management and Saudi Arabia's Public Investment Fund, the sale discussions are expected to resume next year if conditions improve.
The franchise operates around 2,000 outlets across 13 countries, including Kazakhstan and Azerbaijan.
AlShaya Group declined to provide a comment. Refreshment has also reached out to Starbucks for a statement.
#AIShayaGroup #Starbucks
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