REEF Acquires iKcon to Fuel Global Expansion

    Industry News | November 8, 2021

    REEF Technology Inc., the largest operator of delivery kitchens, logistics, and proximity hubs in North America, announced its entrance to the Middle East and North Africa region through the full acquisition of iKcon Restaurant LLC (Innovative Kitchen Concepts). The acquisition of iKcon marks REEF’s first major transaction in the MENA market and is part of its broader strategy toward global expansion.

    ”We are excited to welcome iKcon and its team members to REEF’s global proximity platform,” says Tommy Rosen, Head of Development at REEF. “The Middle East and North Africa are crucial markets in the rapidly evolving F&B and retail industries, and our acquisition of iKcon will position REEF to become a leader in the region.”

    With a network of innovative kitchens in prime locations and over 800 employees, iKcon utilizes its modern facilities, smart technology solutions and highly qualified chefs and customer service teams to extend the reach of their portfolio of +100 well-known local, regional and international restaurant partners such as Just Salad, YO Sushi, Dunkin’, California Pizza Kitchen, German Doner Kebab and local hero brands such as PINZA, and Pizza Di Rocco.

    “Since its inception, iKcon has consistently focused on operational excellence and building a unique customer-centric business model,” adds Khalid Baareh, co-founder and CEO at iKcon. “The past three years have taught us the importance of pursuing our vision with commitment and passion, driven by a world-class team. Today, we are thrilled to join the REEF team and to continue our journey of bringing innovation to neighborhoods everywhere. REEF’s leadership in proximity will play a great role in accelerating our regional expansion plans. We are fully committed to driving the development of REEF in MENA.”

    REEF, backed by a group of investors including Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, SoftBank Vision Fund 1, funds managed by Oaktree Capital Management, L.P., UBS Asset Management and Target Global, focuses on transforming urban spaces into proximity hubs that create jobs and bring new goods, services, and experiences to neighborhoods across the globe.

    REEF has already established a presence in Abu Dhabi Global Market (ADGM), the international financial center of Abu Dhabi, with plans to continue growing throughout the region.

    News and information presented in this release has not been corroborated by WTWH Media LLC.