Alpha Dhabi Holding PJSC has acquired an interest in Nammos Group as a result of its joint venture partnership with Monterock International, an international investment company with a focus on hospitality and food and beverage (F&B) sectors, it announced on Thursday.
The transaction marks Alpha Dhabi’s entry into the luxury and lifestyle vertical.
Hamad Salem Al Ameri, CEO and Managing Director of Alpha Dhabi, said: “We see strong potential for the expansion of our platform into the F&B and wider lifestyle space, both of which are markets with strong fundamentals globally driven by the return to travel and leisure post COVID-19. Our expansion into this space confirms of our ambition to assemble a portfolio of leading luxury and lifestyle brands and we are excited to embark on this journey with Monterock.”
The Nammos brand’s Dubai restaurant will be a cornerstone brand in the lifestyle portfolio.
Petros Stathis, Chairman of Monterock International Ltd, added: “The partnership marks a new milestone in our history and it’s a strong vote of confidence in the Monterock team and especially in its Nammos World projects. This joint venture will position our business for accelerated growth in the coming years.”
The partnership will see the development of the Nammos World projects, a plan to extend Nammos’ reach and footprint globally as well develop and diversify its offering.
The lifestyle vertical aims to go beyond investments in the F&B sector and build a portfolio of lifestyle, luxury, hospitality, F&B and entertainment brands.