Epik Foods Cashes In US$15.5 Million In New Investment Round

From left to right: Epik Foods' Ranya Basyuni and Khaled Fadly and Ruya Partners' Mirza Beg. Image courtesy Epik Foods.

The UAE-based food and beverage group Epik Foods has pocketed US$15.5 million in private capital funding from Ruya Private Capital I, LP, a fund managed by Ruya Partners.  

The investment is intended to expand the company's presence in Saudi Arabia and the UAE. The funding will be used for key acquisitions and working capital and will support the company’s diverse portfolio of food and beverage concepts.

Epik Foods was founded in 2023 by Khaled Fadly and Ranya Basyuni through the merger of three companies — KR&CO, Sweetheart Kitchen, and Happy Platters Kitchens. The merger was supported by Gulf Islamic Investments (GII), a Shariah-compliant global alternative investment firm. 

Currently, Epik Foods operates over 60 concepts across 50 locations in the UAE and Saudi Arabia, with 20 more locations planned. The company’s portfolio includes quick-service restaurants, digital brands, meal kits, and catering services. Established brands such as Poke & Co, Healthy & Co, Acai & Co, and Route Beirut are part of the group’s offerings. 

Epik Foods aims to capitalize on the growth of the GCC’s food and beverage market, which is expected to grow at a compound annual growth rate (CAGR) of 7.5 percent, driven by rising disposable incomes and evolving consumer preferences.  

In an interview with Inc. Arabia, the co-founders of Epik Foods discussed how the influx of funds is set to fuel their company’s expansion across the GCC. 

“Securing $15.5 million from Ruya Private Capital marked a pivotal milestone in Epik Foods’ growth journey," said Fadly and Basyuni. "The partnership was a natural fit due to our shared vision of scaling operations and seizing opportunities in the dynamic GCC F&B market. Their deep regional expertise and understanding of high-growth markets like Saudi Arabia and the UAE provided invaluable strategic alignment. Ruya’s tailored financing solutions and proactive support enable us to accelerate market expansion, enhance our technology capabilities, and scale our diverse offerings. This partnership positions Epik Foods for sustainable growth and long-term success in a competitive and evolving industry."

The capital will support several key initiatives aimed at expanding Epik Foods’ footprint, the co-founders added. “This investment will empower Epik Foods to drive significant growth through key initiatives," Fadly and Basyuni said. "We are set to launch 20 new locations across the UAE and KSA, including our own flagship food hall in King Abdullah Financial District (KAFD). Additionally, the secured capital will fuel strategic acquisitions, broadening our portfolio of brands and cuisines to meet diverse consumer preferences.” 

“We also plan to expand our Catering Division, Epik Catering, to deliver exceptional experiences while bolstering key partnerships and initiatives that align with our growth strategy," Fadly and Basyuni added. "Together, these efforts position us to enhance our footprint, diversify our offerings, and deliver value to our customers and stakeholders." 

Given the varying dynamics across the GCC, Fadly and Basyuni shared their strategy to adapt to different consumer preferences and regulatory environments. “Expanding into Saudi Arabia and the UAE requires a tailored, adaptive approach to meet diverse consumer preferences and navigate unique regulatory environments," they noted. “With over seven years of experience in the UAE, we’ve developed a strong customer base and deep insights into regional market dynamics. This expertise allows us to strategically adapt our offerings to align with local tastes while ensuring compliance with regulations. By leveraging this foundation, we are well-positioned to thrive in both existing and new markets, driving growth across the dynamic GCC landscape." 

Ruya Partners' managing partner Mirza Beg told Inc. Arabia that Epik Food's dynamism and clear growth trajectory gave his company's confidence in the enterprise's potential to scale.

“For Ruya, it was the combination of a very dynamic, creative, operations-focused, and customer-centric team at Epik Foods, together with the support of GII, all stitched together with a very clear and joint vision of how to grow this business," Beg said. "So far, this has resulted in an omnichannel business with a diversified group of 60 brands, a preponderance towards the healthy food category, and multiple levers of growth. We are very excited to participate in this opportunity because it is rare to find such a combination of potential success factors for a business." 

Beg also expressed strong confidence in the opportunities for Epik Foods in Saudi Arabia. “Growth in Saudi Arabia is a key strategic goal for Epik," he said. "So far, the KSA business has been created via both organic and inorganic actions, and we would expect the same in the future, organic growth coupled with opportunistic acquisitions."