{"id":680223,"date":"2026-01-07T00:00:00","date_gmt":"2026-01-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=680223"},"modified":"2026-01-07T07:19:17","modified_gmt":"2026-01-07T07:19:17","slug":"gourmet-files-to-go-public-on-the-egx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/01\/07\/gourmet-files-to-go-public-on-the-egx\/","title":{"rendered":"Gourmet files to go public on the EGX"},"content":{"rendered":"

Our favourite supermarket chain and food producer is getting ready to go public. <\/strong>Gourmet has submitted a request to the Financial Regulatory Authority (FRA) to IPO on the EGX, a source with direct knowledge of the transaction tells EnterpriseAM, confirming a report in the domestic press earlier this week. <\/p>\n

What could the transaction look like? <\/strong>Gourmet could announce in the coming weeks a plan to offer up to 40%. The company, backed by high-profile private equity outfit B Investments, has been exploring a potential IPO for more than a year now, as we\u2019ve previously reported<\/a>. In August 2024, B Investments, which owns 53% of Gourmet, was reportedly considering a partial selldown, a full exit, while founder Jalal Abu Ghazaleh, who as of 2024 held 47% of the grocer, had engaged EFG Hermes to advise on a potential stake sale. <\/p>\n

!_SuHed_! Our take<\/strong><\/p>\n

\u201cWe see this as a deliberate choice to lean into market momentum<\/strong>,\u201d Mirette Ramez, managing director of Nexus Capital<\/a>, which has multiple ongoing engagements with family-run businesses, told EnterpriseAM. She notes that Gourmet is becoming a textbook case study for family businesses that \u201cbuild scale, open their capital structure to a seasoned financial investor (B Investments), and tap public markets for liquidity.\u201d<\/p>\n

This could be the exit B Investments has been waiting for<\/strong>, with Chairman Hazem Barakat previously signaling the 1Q 2026 window for a selldown<\/a>. B Investments acquired 40% of Gourmet in 2018 for EGP 65 mn<\/a>, implying a valuation of roughly EGP 160 mn, before raising its stake to 53% through a capital increase. With the company valued at an estimated EGP 1.5 bn in 2024<\/a>, the private equity firm is looking at a healthy exit.<\/p>\n

Barakat had suggested in 2023 that a sale to a foreign strategic investor could be in the <\/strong>cards<\/strong>, but the transaction stalled when the potential buyer revised its strategy. Heading to the EGX now suggests B Investments thinks it can lock in a healthy valuation \u2014 and that there\u2019s enough liquidity in the market to pull off a successful transaction. The delay in pursuing a foreign buyer only strengthened Gourmet\u2019s equity story, as 30-40% y-o-y growth in 2024 reinforced the rationale for going public, according to Barakat.<\/p>\n

Advisors: <\/strong>Our friends at EFG Hermes are reportedly quarterbacking the transaction, with White & Case acting as counsel. EnterpriseAM haven\u2019t yet gotten callbacks on who is advising \u2014 we\u2019ll let you folks know when we do. <\/p>\n

GO DEEPER- Abu Ghazaleh is now running AM Foods full-time <\/strong>since stepping back from Gourmet. AM Foods was his first business and is now exporting baladi bread to the United States under contract to a major national supermarket chain. We caught up with him a couple of weeks ago. Read: Food entrepreneur Jalal Abu Ghazaleh on cracking the US export market<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

B Investments owns 53% of Gourmet<\/p>\n","protected":false},"author":1,"featured_media":680224,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12452],"tags":[140,72,8775,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-680223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch-2","tag-b-investments","tag-enterpriseam","tag-gourmet","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"2434c30b-042b-45c8-8528-9d036573ec2f","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/1\/195.jpg","photo_position":"above","homepage_title":"","full_issue_title":"No foreign buyer? 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Gourmet files for IPO as B Investments eyes monetization","related_issue":[680215],"teaser":"B Investments owns 53% of Gourmet"},"yoast_head":"\nGourmet files to go public on the EGX - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/07\/gourmet-files-to-go-public-on-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gourmet files to go public on the EGX\" \/>\n<meta property=\"og:description\" content=\"B Investments owns 53% of Gourmet\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/07\/gourmet-files-to-go-public-on-the-egx\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" 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The food retailer and manufacturer also has regional expansion on his mind something, he said, in an interview that also dives into how Gourmet started, how it has\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/674.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":641752,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/the-future-of-b-investments-stake-in-gourmet-is-up-in-the-air\/","url_meta":{"origin":680223,"position":3},"title":"The future of B Investments\u2019 stake in Gourmet is up in the air","author":"enterpriseam admin","date":"2 September 2024","format":false,"excerpt":"B Investments is looking into either fully exit or increase its 53% stake in the compay","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/68.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564562,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/14\/ebtikar-pushing-forward-with-ipo-of-e-payment-units\/","url_meta":{"origin":680223,"position":4},"title":"Ebtikar pushing forward with IPO of e-payment units","author":"enterpriseam admin","date":"14 February 2021","format":false,"excerpt":"Ebtikar is on the road to IPO as spin-out begins: Ebtikar has transferred the shares of Tamweel Holding to a new parent company as part of a plan to spinoff activities not related to e-payments ahead of an upcoming IPO, Ebtikar owners B Investments and MM Group said in filings\u2026","rel":"","context":"In "SPEED ROUND: IPO WATCH"","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/447.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":681830,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/01\/19\/is-gourmet-the-next-spinneys-uae-and-will-regional-investors-bite\/","url_meta":{"origin":680223,"position":5},"title":"Is Gourmet the next Spinneys UAE, and will regional investors bite?","author":"enterpriseam admin","date":"19 January 2026","format":false,"excerpt":"The headline today isn\u2019t the listing, it's the valuation and appeal to investors","rel":"","context":"In "The Big Story Today"","block_context":{"text":"The Big Story Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-big-story-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/680223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=680223"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/680223\/revisions"}],"predecessor-version":[{"id":680261,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/680223\/revisions\/680261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/680224"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=680223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=680223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=680223"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=680223"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=680223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}