El Jannah Sold to US Private Equity Firm
Malaysian restaurant chain El Jannah has been sold to a US private equity firm for an undisclosed amount.
The sale was confirmed by the company's founder, Datuk Mohamed Idris, who stated that the new owner would not affect the company's operations or management.
El Jannah operates over 30 restaurants across Malaysia and has been a popular destination for its Middle Eastern-inspired cuisine.
The sale marks a significant exit for private equity firm, which has invested heavily in the restaurant chain over the past few years.
El Jannah's founder expressed confidence in the new ownership, stating that the company would continue to grow and expand its operations under the new management.
"The new owner has a strong track record of investing in the food and beverage industry, and we are confident that they will take El Jannah to new heights,"
— Datuk Mohamed Idris, El Jannah founder
AUTHOR'S RESUME:
The sale of El Jannah to a US private equity firm marks a significant shift in the Malaysian restaurant industry, highlighting the growing interest of foreign investors in the country's food and beverage sector.
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