NOMU IS CREATED BY THE MERGER OF TWO AMBITIOUS MIDDLE EASTERN FOOD DELIVERY FIRMS
Two Middle Eastern companies working in the food delivery sector have joined forces to create a new entity called Nomu.
Officials at the companies have said that Nomu aims to become the market leader in the Middle East in its field.
In a statement, Shehab Mokhtar, who founded and was the CEO of Appetito, and who is now the CEO of Nomu, said the two companies had “been separately but similarly working hard to reinvent the grocery supply chain”.
“Both have focused on reliability, speed and affordability, building a solid reputation and a loyal customer base of families and F&B businesses,” he said.
“Our merger will set us on the path to reach 100 million Saudi Riyals (€24.99 million) in revenue and positive EBITDA [earnings before interest, taxes, depreciation, and amortisation] within 2023, with important synergies on the tech, marketing and procurement fronts.”
The merged entity has operations in Saudi Arabia, Egypt, Tunisia and Morocco and infrastructure that covers 100,000 food and beverage stores.
Jumlaty, as a food-tech supply chain platform, is known for leveraging AI, social commerce and smart financing, while Appetito, which was founded in March 2020, sources products from producers, stores them and supplies them via its fulfillment centres.