Gateway Partners has invested c.USD 50m in the Tim Hortons gulf franchise. The Tim Hortons gulf franchise is owned by retail conglomerate Apparel Group. Investment proceeds will be used for growth as the group expands to Egypt, India and across the gulf.
Dubai-based private equity firm Gateway Partners has acquired a 40% stake in the Gulf franchise of coffee and breakfast chain Tim Hortons, two sources familiar with the matter told Reuters.
Gateway Partners, which is led by former Standard Chartered banker Viswanathan Shankar, paid about $50 million for the holding, the sources, who declined to be named, said.
Gateway declined to comment.
The franchise is owned and managed by Dubai-based fashion and lifestyle retail conglomerate Apparel Group.