Alpha Dhabi Holding, a leading UAE investment holding company, has announced that it has acquired a major stake in European luxury hospitality group Nammos through its joint venture with Monterock International, a key investment group with focus on hospitality and food and beverage (F&B) sectors.
Nammos Group, a globally celebrated lifestyle and F&B brand, has seen strong success in its expansion to date. Its Dubai restaurant ranks as one of the top performing restaurants in the world and it will be a cornerstone brand in the lifestyle portfolio.
Alpha Dhabi said the partnership will see the development of the Nammos World projects, an ambitious and scalable plan to extend the brand’s reach and footprint globally as well develop and diversify its offering as it continues to build on its status as a premier and luxury hospitality and F&B brand.
With its flagship locations in Mykonos and Dubai as well as soon-to-open venues in London, Cannes, and Abu Dhabi, Nammos’ plans for global expansion are ambitious – and in line with Alpha Dhabi’s wider plans, said the Emirati company in its statement.
It includes bringing the world-class, holistic and luxurious end-to-end guest experiences that they are famed for – as leaders in the hospitality and F&B fields – to locations around the world, it stated.
On the key stake deal, CEO and Managing Director Hamad Salem Al Ameri said: "Through the growth Alpha Dhabi has exhibited over the last year, we have demonstrated a sustained and proven ability to generate expansion and investment opportunities, which are driving new revenue streams and creating greater shareholder value."
"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," he noted.
Al Ameri pointed out that the addition of these assets and brands to Alpha Dhabi's current portfolio which includes Cheval Blanc - Maldives, will be immediately value-accretive to the group's diversified platform and showcase its commitment and ambition to driving value and brand recognition across the portfolio.
"The lifestyle vertical and portfolio will go beyond investments in the F&B sector and aims to build a world-class portfolio of lifestyle, luxury, hospitality, F&B and entertainment brands that can complement each other, allow for cross-selling and integration across the platform and provide a truly unique value proposition to brands looking to accelerate their expansion and growth," he added.
He said following the announcement, the joint venture intends to assess further opportunities through the newly set up F&B vertical as it seeks to increase its allocation across the sector with ambitions to be the partner of choice to leading lifestyle and F&B brands looking to amplify their reach and scale their footprint globally.
Monterock International Chairman Petros Stathis said the Alpha Dhabi partnership marked a new milestone in its history and it was a strong vote of confidence in the Monterock team and especially in its Nammos World projects.
"Over the past decade of our growth journey, MonteRock International has been marking its own path through a growing multi-brand portfolio focused on the upper-segment of leisure and lifestyle markets and is excited to expand this success further on a greater scale globally," he noted.
"This JV will position our business for accelerated growth in the coming years and we look forward to working together with Alpha Dhabi Holding as we begin our journey to create the world’s leading hospitality and F&B projects," he added.-TradeArabia News Service
