Istanbul, 17 July 2017 – Simit Sarayı today announced that Fawaz Alhokair Group signed a strategic partnership agreement to acquire a 10% stake in Simit Sarayı. Fawaz Alhokair Group will appoint Dr. Abdul Majeed Alhokair, Group Vice President and the driving force behind the Saudi Group’s F&B and retail business, as a member of the board of directors of Simit Sarayı. Fawaz Alhokair Group, one of the largest and most successful operators in the shopping mall, entertainment, F&B and fashion retail sectors in Saudi Arabia and the MENA region, signed a master franchise agreement with Simit Sarayı back in 2014 and successfully rolled out 50 Simit Sarayı stores in the MENA region to date. Under the master franchise agreement, Fawaz Alhokair Group plans to roll out more than 250 stores in the next 4 years and reach a total store portfolio of over 300 Simit Sarayı stores by the end of 2021. Fawaz Alhokair Group’s 10% minority investment not only deepens the strategic cooperation between Fawaz Alhokair Group and Simit Sarayı and creates value for both, but it also represents a significant milestone in Simit Sarayı’s successful international expansion strategy. Abdullah Kavukcu, Chairman and CEO of Simit Sarayı said: “We are very happy to have established a strong shareholder partnership with one of the leading international F&B retail companies Alhokair Group. We have had a very fruitful and successful master franchise relationship with Alhokair Group since 2014. This investment by Alhokair Group will help Simit Sarayı who is currently present in 21 countries continue on its journey to becoming a leading global F&B retail brand with roots from Turkey. I would like to especially thank my partners Haluk Okutur and Mehmet Tarakçı, our house bank Denizbank and its CEO Hakan Ateş”. Fawaz A. Alhokair, Founder and Chairman of Fawaz Alhokair Group said: “We are very excited to become a strategic shareholder in one of Turkey’s leading and iconic F&B retail companies. We believe in the development of the Turkish market and the global growth potential of Simit Sarayı. We have witnessed an outstanding operational and financial performance of Simit Sarayı stores in the MENA region over less than three years and are very impressed by the expanding global footprint of Simit Sarayı. We believe that together we can carry the company to new heights”. About Simit Sarayı Founded in 2002, Simit Sarayı is Turkey’s homegrown international F&B retail brand, serving fresh Turkish bagels and other popular Turkish bakery products in Turkey and international markets, through its popular retail stores. Simit Sarayı successfully expanded its international footprint between 2010 and 2016 through company owned stores and franchise agreements. By the end of 2017, the company will have 408 stores across 21 countries, including Turkey. Through its proven hybrid store roll-out model and its delicious bakery products, Simit Sarayı aims to continue rapidly expanding its international footprint as one of Turkey’s global brand ambassadors. About Fawaz Alhokair Group Fawaz Alhokair Group is one of the leading business groups in the Kingdom of Saudi Arabia focusing on the shopping mall, entertainment, F&B and fashion retail sectors. The Group started in 1989 as a partnership by three brothers, Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair and Dr. Abdul Majeed Abdulaziz Alhokair as a retail apparel store operator with two menswear stores. Today, the Group has diversified from the fashion retail business into various other sectors. The diversification has further extended to cover non-retail business sectors such as real-estate, construction, financial services, health care and hospitality. The Group has expanded its business operations beyond the borders of the Kingdom and invested in retail and real estate sectors across the GCC countries, reaching to the Middle East and North Africa (MENA), USA and Central Asia and Caucasus. The real estate division of the Group presently operates a network of over 16 shopping malls, managing over 1.6 million square meters of prime retail real estate. The fashion retail business is present across 16 countries, operates more than 2,100 stores representing more than 80 international brands.
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Simit Sarayı only collects the information provided by you. This information is the basic information that includes your name, surname, address, and e-mail address, as well as your Facebook and Google user name. Your personal information is collected so that we can quickly get back to you and inform you of new products and campaigns when you subscribe to any of our websites or connect to our applications.
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Your obtained personal information will be able to be shared with Simit Sarayı and its group companies in accordance with the confidentiality agreement so that your requested products or desired services can be offered. The institutions stated as the Simit Sarayı group companies are Simit Sarayı's affiliates, subsidiaries, enterprises, and the third parties that it works together. These third parties are the companies that we work together to provide you with a better service, and these include the companies with which we prepare promotions, offers, and contests; the suppliers from whom we get help to meet your requests in a better way and to eliminate technical problems; and the agencies from which we receive consultancy services to support and improve our marketing and advertising efforts. In order for the said activities to be carried out, your information will only be shared as long as Simit Sarayı has the permission. As per the confidentiality policy and data protection, the institutions which will use this information will only be able to reach your information for the mentioned activity.
As long as you give us your permission, Simit Sarayı or the institutions we work together will send you e-mails about new products, purchasing offers, discount vouchers, special news in which we think you may be interested, the developments that tells about us and that we will be happy to share with you, as well as other special offers.
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Upon your request, you can get information about our data protection policies and procedures.
On our website there may be links which will direct you to pages that are not managed by Simit Sarayı. If you visit any of these websites, you must consider the confidentiality policies of the website to which you are directed. Simit Sarayı is not responsible for the standards and company principles of other websites.
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Our website or singular pages use the social links of Facebook.com owned by Facebook Inc. When you want to open a page including a social link, your browser directly connects to Facebook servers and send a notification to Facebook regarding your entry to our website. If you sign up for your Facebook account, Facebook matches the notified data to your account. When you use the link's functions “like”, “comment”, the related data is sent to Facebook via your browser. Please check the Facebook Confidentiality settings regarding Facebook's use and process of the obtained data. If you do not want Facebook to collect information about you by using our website, log out from your Facebook account before visiting our website.
Rights of the Persons Whose Personal Data Is Processed
Persons whose personal data is processed under this agreement have the right to learn whether their personal data is processed or not; to receive the related information if their data is processed; to know the purpose of data processing and to learn whether these are used in accordance with their purpose; to know about the third parties to whom the data is transferred at home or abroad; to ask for the data to be corrected/deleted if they have missing or mistaken parts; to raise an objection for a personal negative result to occur through an exclusive analyze of the processed data using automatic systems; and to ask for the indemnification of losses if he/she suffers from damages due to a data processing in violation of the relevant legislation. Change in the Confidentially Policy at Simit Sarayı, we can make changes in our confidentiality policy in certain periods as long as it is required. Simit Sarayı reserves the power to update the confidentiality policy and recommends its users to visit this page whenever they enter the website or use the mobile application. We indicate the changes on this page in order to inform you of any change in the best way possible. Our changes do not cover the past activities as we assume that you periodically check this page. By visiting this website, you are deemed to have accepted all kinds of arrangements and changes to be made in the "Internet Confidentiality Agreement."
You can use the following contact details to reach us for any queries regarding the confidentiality agreement.
Simit Sarayı Yatırım ve Tic A.Ş
Address: Büyükdere Cad. Apa Giz Plaza No:191 Levent/Şişli/İstanbul