Competition Authority seeks public opinion on Alhokair’s acquisition of Innovative Union

01/12/2019 Argaam

 

The General Authority for Competition said that retailer Fawaz Abdulaziz Alhokair & Co. and Innovative Union Company have filed a request to approve the fashion retailer's acquisition of Innovative Union.

 

The Authority invited the public to share their views regarding this economic concentration within 15 days from the day of publishing the announcement.

 

Innovative Union specializes in food industry and services, while Al Hokair is specialized in retail and owns franchise for brands.

 

Al Hokair signed an agreement on Aug. 3 to fully acquire Innovative Union Company, owned by Food and Entertainment Company, for SAR 340 million, Argaam reported earlier.

 

The main brands in the portfolio of Innovative Union are Seattle’s Best Coffee, Cinnabon, Mama Bunz, and Molten Chocolate Café.

 

Casual dining brands include Crêpe Affaire, Life with Cacao, Turkish coffee chain Kahve Dünyasi, Caffe Concerto, the restaurants Azal and Bluefin, and Sütiş.

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