New Food Technology Holding (NFT) has completed a private equity placement for $500,000. The equity raise will be used to develop the restaurant’s franchise offering, as well as complete the launch of regional outlets in Saudi Arabia and Kuwait.
NFT is the owner and operator of Dip ‘N Crunch, a fast food eatery offering multi-flavored French fries with a variety of dips.
“Our objective was to offer Gulf based investors an attractive regional private equity investment opportunity. We worked closely with Arab Finance Corporation, a Lebanese financial institution, to assist in the structure of this transaction, and used our extensive investor network. The offering was oversubscribed due to the transparent and professional terms of the Dip ‘ Crunch investment,” explained Director and Strategic Advisor of Ibrahim A. Mardam Bey.
NFT is a Lebanese based joint stock company that specializes in developing and franchising fast food concepts. The Dip ‘N Crunch franchise and intellectual property have been registered and protected in Lebanon and overseas. The franchise falls within the fast food eatery line of business, featuring low per outlet capital requirements, and attractive annual returns on investment. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
