JTG Holdings Ltd, headquartered in Dubai and the majority owner of the ‘Jones the Grocer’ brand has acquired the significant minority stake held by L Catterton Asia (a subsidiary of LVMH) making JTG Holdings Ltd the sole owner of Jones the Grocer’s IP across the world.
Established in 1996 in Australia,the popular food emporium, known for its casual dining style, cheese room and gourmet retail, will utilise a tranche of new funding to accelerate the brand’s growth and identify strong franchise partners to grow worldwide.The brand currently has 23 trading stores, a pipeline of 23 new sites scheduled to open across the region and has set an ambitious target of 200 new stores in five years.
JTG Holdings Ltd & Jones the Grocer’s CEO and shareholder, Yunib Siddiqui said, “We are incredibly proud of the regional success of Jones the Grocer, particularly the tremendous resilience our diversified revenue streams have shown last year. The time’s right to expand into new and existing international markets. Our success is a testament to the universal appeal of a well-executed Australian foodie ethos, of a high quality, innovative offer.”
The acquisition and the acceleration strategy announcement marks 25 years since Jones the Grocer opened its first store in Sydney and 12 years since the first UAE store in Abu Dhabi set new standards for casual dining and food retail in the UAE.
“Our brand has been tested over the years and there is no doubt about its longevity, versatility and scalability; we’re ripe for global growth in Europe, Asia Pacific and the GCC region. There has been a staggering decline of over 50% of seated diners worldwide and we’re fortunate to be continuing our expansion. As we navigate these new waters, our role in reconnecting communities as people return to celebrate everyday life over meals whether its breakfast, lunch, dinner, cheese or gourmet food shopping, we want to be the venue they choose to do that in, across the globe.”
