Saudi fast food giant ready to challenge KFC in Egyptian market
The introduction of Saudi fast food chain Albaik to Egypt is part of the $7.7 billion investment package announced during the recent visit of Saudi Crown Prince Mohammed bin Salman to Cairo.
CAIRO — Saudi food brand Albaik has unveiled a plan to debut in the Egyptian market, capitalizing on a thriving fast food business in the populous Arab country and opening the door for speculation about whether it plans to overtake the fast food and fried chicken market in the country.
The plan was announced during the latest visit to Cairo by Saudi Crown Prince Mohammed bin Salman.
It was part of a package of Saudi investments of $7.7 billion that will be distributed across a large number of sectors in Egypt, including renewables, pharmaceuticals and e-commerce.
Albaik, Saudi Arabia's leading fried chicken brand, which has over 120 branches in Saudi Arabia, the United Arab Emirates (UAE) and Bahrain, will partner with Saudi-listed food manufacturer Halwani Bros. Co. in implementing the plan.
