Announcing the signing of a binding, conditional agreement for a strategic merger between the two companies, “Travel Hospitality” and “Family Entertainment.”

In an event that represents an important and prominent achievement at the level of the food and beverage sector in the Kingdom of Bahrain, Travel Hospitality Company and Bahrain Family Entertainment Company B.S.C. (“Family Entertainment Company”), announced the signing of a conditional binding agreement relating to the proposed merger between Family Entertainment Company and Travel Hospitality Holding LLC. (“Travel Hospitality Company”), a company operating in the food and beverage sector and affiliated with Divided Gate Capital Group. The agreement is conditional on the completion of the due diligence process, with the proposed merger transaction being subject to the approval of shareholders and regulatory authorities.

This proposed merger represents a major achievement in strengthening the premium food and beverage sector in Bahrain and this proposed merger will result in one of the largest food and beverage companies in Bahrain. This agreement confirms the two companies’ firm commitment to enhancing their presence in the market and cooperating to provide innovative dining and hospitality experiences. By combining resources and expertise, the merger aims to raise the Kingdom’s position and place it at the forefront of innovation and excellence in the sector.

Commenting on this proposed merger, Chairman of the Board of Directors of the Family Entertainment Company, Al Estad, Abdul Latif Al Aujan, said: “Bahrain is full of high-end experiences in the field of cooking and dining, and has many distinguished chefs who have won international awards, in addition to its high-level local brands, and based on that, we are happy.” By moving forward to complete the merger with Travel Hospitality Company, this partnership will work to further develop the market gains and advance them to broader horizons. This cooperation is in line with our vision to achieve growth. A major player in the food and beverage industry and leveraging our strengths, along with Travel Company’s strengths, to improve our offerings and services and enhance their competitiveness.”

For his part, the founder of Dividend Gate Capital and Chairman of the Board of Directors of Travel Hospitality Company, Mohammed Nizam Khunji, said: “We are excited about this merger with the family entertainment company, which is in line with our goal of promoting sustainable growth in the hospitality sector in Bahrain, as we expect growth and prosperity.” We are looking forward to the pioneering achievements we will achieve together and a distinguished position in the market with the highest standards of quality, efficiency and leadership.”

Commenting on this merger, Ahmed Janahi, Vice Chairman of the Board of Directors of the Family Entertainment Company, said: “This merger brings together a wide and diverse portfolio of restaurants, which strengthens the position of the new company in the restaurant sector. In light of the fruitful cooperation between the Family Entertainment Company and Travel Company For hospitality, we seek to elevate the dining experience in Bahrain, while setting new standards for the sector. Our shared vision focuses on expanding the scope of our brands, expanding in the region, and strengthening our position in the food and beverage sector.”

In addition, Khaled Al Hammadi, founder of Dividend Gate Capital and a member of the Board of Directors of Travel Hospitality Company, said: “We are very optimistic about this merger given the comprehensive and giant entity it provides in the field of food, beverages and hospitality, and the fact that it builds on the extended cooperation ties that have brought the two companies together for years, and we are confident.” This will give us greater momentum to continue growth and expansion in food and beverage services and increase the returns achieved from investment in this promising sector. We are also confident that Truffle Hospitality, the arm Divided Gate Capital’s investment in the hospitality sector is moving with a clear strategy to achieve its ambitious goals, which will be reflected in this merger and push the boundaries of the industry to more advanced levels, strengthen and enhance the product portfolio that we offer, increase the volume and flexibility of operations, and find solid common ground with the entertainment company. family to continue growing together.”

For his part, Wissam Haddad, Head of Investment Banking at SICO Group, the lead consultant for the merger, said: “SICO is pleased to provide its advisory services for the implementation of this important transaction, and we will continue to support this merger, looking forward to its successful completion within the next few months.”

This merger paves the way for further innovations and developments in the food and beverage industry in the Kingdom of Bahrain, by combining the resources and expertise of the two companies, as they are among the most prominent leading institutions in providing exceptional dining experiences and contributing significantly to economic growth.

It is noteworthy that the Family Entertainment Company is a Bahraini public joint stock company listed on the Bahrain Stock Exchange, and operates leading brands in the field of food and beverages such as Cucina Italiana and Bennigan’s.

Travel Hospitality is keen to expand and develop the range of local and regional food and beverage brands, which include Hong Kong, Goodness Cafe, Tikka and Kebab Amin, Rasmalai, and others.