Burgerizzr completes acquisition of 60% stake in SHOVEL

Logo of Shatirah House Restaurant Co. (Burgerizzr)

Shatirah House Restaurant Co. (Burgerizzr) has successfully completed the acquisition of a 60% stake in Coffee Bean Trading Co. (SHOVEL), a specialty coffee brand operating seven branches across Saudi Arabia.

In a statement to Tadawul, the company said the relevant procedures, transfer of ownership, and regulatory documents were completed today, Oct. 27.

The buyout was made through the purchase of shares from some partners and an increase in the company's capital.

The acquisition, which was first announced in August 2025, was executed through stake purchase from existing partners and a capital hike, raising Coffee Bean’s capital from SAR 25,000 to approximately SAR 2.61 million, the statement added.

The financial impact of the transaction will be reflected in Burgerizzr’s consolidated financial statements for 2025.

Coffee Bean owns the SHOVEL brand, which specializes in the café sector and aims to expand its presence and build a strong brand in the market.

The strategic acquisition supports Burgerizzr’s growth plan to forge into the café sector, expand operations, and strengthen its brand portfolio.

The move is expected to enhance shareholder value, while also reinforcing the company’s commitment to broadening its product offerings and market presence.

According to data available on Argaam, Burgerizzr signed an agreement last August to acquire 60% of Coffee Bean, in a self-financed deal liable to all contractual and regulatory conditions.