Americana is reportedly in discussions to acquire Five Guys, among other well-known brands, as part of its strategy to expand its extensive portfolio in the Middle East and North Africa. As the largest out-of-home dining and quick service restaurant operator in the region, Americana aims to enhance its offerings by potentially incorporating iconic food chains like Five Guys, Cinnabon, and Seattle’s Best Coffee into its operations.
According to a report from Bloomberg, sourced from individuals familiar with the negotiations, Americana is examining the possibility of acquiring Cravia Inc., currently owned by Fajr Capital, a private equity firm that has held the company since 2016.
While discussions about the potential acquisition of Five Guys are still in the preliminary stages, sources indicated that there is no guarantee a finalized deal will emerge. Bloomberg noted that it was unable to obtain a comment from Americana, while Fajr Capital chose to remain silent on the matter.
Americana’s Financial Performance
Americana reported robust revenue growth of 16.2% for the first quarter of 2025 compared to the previous year. This increase is attributed to improved like-for-like sales and the expansion of its store network.
The company also announced an EBITDA of $121.7 million, reflecting a remarkable 17.4% rise, with net profit attributable to shareholders reaching $32.6 million, a 16.5% year-over-year increase.
During this period, Americana generated $33.5 million in Free Cash Flow, showcasing its healthy financial standing with no leverage and substantial cash reserves, positioning it well for potential acquisitions like Five Guys.
About Cravia and Its Brands
Cravia operates 78 outlets and employs over 2,000 staff members. In addition to contemplating the acquisition of Five Guys and Cinnabon, Cravia also manages popular brands such as Zaatar W Zeit, Seattle’s Best Coffee, and Carvel, making it a valuable asset for Americana as it seeks to broaden its market reach.
With its diversified portfolio and impressive financial growth, Americana’s potential acquisition of Five Guys could mark a significant milestone in the company’s expansion strategy. By integrating these beloved brands, Americana aims to further solidify its position as a leader in the restaurant sector across the region.