RIYADH: Mubadala Capital-backed REEF, an operator of delivery kitchens, logistics, and proximity hubs in North America, and food and beverage operator Americana Group, have formed a joint venture to open cloud kitchens that will operate throughout the Middle East and North Africa.
The partnership will strengthen and accelerate REEF’s rapid global expansion through Americana’s real estate portfolio and end-to-end value chain throughout the region, according to Wamda.
The joint venture came after REEF’s success last November with acquiring iKon Restaurant LLCC, a UAE-based cloud kitchen company.
Excited to announce a joint venture with Americana Group. By uniting the region’s largest Food & Beverage operator with #REEF’s culinary ecosystem, this partnership will bring convenient access to neighborhoods across MENA. Read all about it: https://t.co/PTkNDAXOLT pic.twitter.com/m72DTe4Q7Q
— REEF (@reeftechnology) January 6, 2022
It was the Miami-based company’s first major transaction in the region.
“By uniting the region’s largest and most established F&B (Food and Beverage) operator with REEF’s culinary ecosystem, this partnership will bring convenient access to some of the most loved brands to neighbourhoods across the Middle East and North Africa,” president of REEF Kitchens, Michael Beacham said in a statement.
A cloud kitchen is also known as a ghost kitchen or virtual kitchen. It is a commercial kitchen space that provides food businesses the facilities and services needed to prepare menu items for delivery and takeout. It uses custom-built spaces and optimising processes specifically for delivery, cloud kitchens can run very efficiently.
REEF, established its presence in August 2021, as it has partnered with a number of international brands to bring its cloud kitchens concept to local neighbourhoods, including MrBeast Burger in Dubai.
However, REEF has a proximity ecosystem of over 8,000 locations and a team of over 18,000 team members.