Alamar signs SAR 85M facility to finance Five Guys franchise acquisition

Alamar said the facility will be used to finance the acquisition of the operator of Five Guys in Saudi Arabia

Alamar Foods Co. signed a seven-year Shariah-compliant banking facility worth SAR 85 million with Saudi Awwal Bank, according to a statement to Tadawul.

The company said the seven-year facility was secured today, April 26. It will be used to finance the acquisition of the operator of the Five Guys brand in Saudi Arabia, supporting its expansion strategy and diversification of its brand portfolio.

Alamar submitted a promissory note as collateral, adding that the financing is not expected to result in any material change to its business activities or operating model.

The company had previously signed an agreement on Dec. 31, 2025, to acquire 100% of Arabian Passion Company Ltd., the exclusive franchise holder of Five Guys in the Kingdom, for SAR 85 million, subject to certain price adjustments.