backKing & Spalding has represented Jadwa Investment (Jadwa) on the acquisition of Dubai-headquartered food and beverage operator, Blackspoon Group (Blackspoon). Jadwa, a leading investment management and advisory firm in the Middle East, has acquired 100% of Blackspoon, which operates a series of leading food and beverage brands in the UAE, including its flagship brand Allo Beirut brand. Jadwa is Saudi Arabia’s best performing public equity manager, largest private equity investor, and largest manager of listed REITs. Headquartered in Riyadh with three regional offices, the firm has over USD 20 billion in client assets under management and advisement. The acquisition, which is Jadwa’s second acquisition in the consumer sector in 2023, signals Jadwa’s push into the consumer market across the GCC and will provide Blackspoon with a platform to become a market leader in the food and beverage sector in the GCC. AON advised Jadwa on M&A and transaction advisory solutions.
A team of lawyers from King & Spalding’s Dubai, Riyadh and London offices advised Jadwa on the matter. The team was led by Nabil A. Issa, and included Amit Kataria, Sunandini Das, Saud Aldawsari, Mohammed Basama, Sayf Shuqair, Jamie Kershaw, Osama Zaid and Husni Al Far.