US Food Tech Startup to Expand Into KSA With A $100 Million Joint Venture
US Food Tech Startup to Expand Into KSA With A $100 Million Joint Venture Published June 3rd, 2021 - 09:30 GMT
Creating Culinary Communities (C3) Arabia has been valued at $100 million. (Twitter)
A US-based food technology platform has announced a new $100 million Saudi joint venture targeting 550 outlets by 2026, with the first set to launch in Riyadh early next year.
Creating Culinary Communities (C3) Arabia has been valued at $100 million and will be 49 percent owned by parent company C3 with Saudi investment firm WK Holding owning the remainder.
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Launched in 2019 by American serial entrepreneur Sam Nazarian, C3 currently operates around 250 food locations throughout the US. This year the company also launched the Citizens Go app, which allows users to order from multiple restaurants as part of a single order.
A US-based food technology platform has announced a new $100 million Saudi joint venture targeting 550 outlets by 2026, with the first set to launch in Riyadh early next year.
Creating Culinary Communities (C3) Arabia has been valued at $100 million and will be 49 percent owned by parent company C3 with Saudi investment firm WK Holding owning the remainder.
Launched in 2019 by American serial entrepreneur Sam Nazarian, C3 currently operates around 250 food locations throughout the US. This year the company also launched the Citizens Go app, which allows users to order from multiple restaurants as part of a single order.
C3’s expansion into Saudi Arabia will be fully funded by Smart Food Holding, a division of WK Holding.
C3, The Fastest Growing Omnichannel Food Tech Platform, Has Created a Joint Venture In Saudi Arabia with Global Investment Group WK Holding
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- The Saudi Joint Venture between Food Tech Platform C
3 (USA) and Global Investment Group WK Holding (KSA) is valued at SAR 375,012,400 (US$100 million)
- C
3 s expansion in Saudi Arabia marks a new era for culinary concepts in line with Vision 2030 by unlocking the strengths of titans of industry to deliver operational excellence and value to stakeholders
- Saudi joint venture is equity split of 49% C
3 and 51% WK Holding
C3 the world s fastest growing omnichannel food technology platform and Saudi Arabia based investment House WK Holding, have announced a joint venture to disrupt and revolutionise the region s food, beverage and lifestyle industries.