• Jahez to acquire 76.56% of Qatar’s Snoonu in a USD 245M deal, marking its entry into the Qatari market.
• The transaction combines cash and shares, with Jahez also subscribing to newly issued Snoonu shares for an additional USD 20M.
• Post-acquisition, Jahez will hold majority ownership while Snoonu’s founder retains 23.44%.

Jahez

What happened? Saudi food delivery app, Jahez, is acquiring a 76.56% stake in Qatari on-demand delivery company Snoonu in a USD 245 million transaction.

What is the deal? Jahez will acquire 8,144,546 shares, representing 75% of Snoonu’s share capital from current shareholders for USD 225 million.This will be paid through a combination of cash and shares in the Saudi company.

Additionally, the food delivery company will subscribe to 723,960 newly issued shares in Snoonu, representing 1.56% of the share capital. This will be for an additional cash consideration of USD 20 million.

The deal is expected to be completed by the second half of 2025 with Jahez owning the majority stake in the Qatari delivery firm. The remaining 23.44% of shares will be owned by Snoonu’s founder and CEO Hamad Mubarak Al Hajri. Moreover, the transaction is still still subject to regulatory approvals from relevant authorities and the fulfillment of the closing conditions.

The deal will be financed through Jahez’s existing cash reserves, bank facilities, and treasury shares currently held by the company. After the acquisition, Snoonu will maintain its current brand and is projected to be valued at around USD 320 million.

EFG Hermes KSA served as the financial advisor for the acquisition. Additionally, Kirkland & Ellis provided legal counsel.

Who are they? Launched in 2016, Jahez International Company, facilities is an online food delivery platform to unite stakeholders from restaurants, logistics fleet, and customer orders from its app.Moreover, it offers on-demand services, q-commerce, last mile delivery, digital solutions and cloud kitchens across Saudi, Bahrain and Kuwait.

Meanwhile, launched in 2019, Snoonu is a multi-vertical platform that spans food, grocery, e-commerce, and logistics. It targets online shopping, food, grocery delivery, pharmacy needs and more.