Gourmet Egypt.Com Foods S.A.E. (“Gourmet” or “GE” or the “Company”), a leading premium grocery retailer, today announces the successful conclusion of its bookbuilding process and the pricing of its initial public offering (the “IPO” or the “Offering”) of ordinary shares (the “Shares”, each a “Share”) at EGP 6.90 per share (the “Offer Price” or the “Final Price”), representing the top end of the previously announced offering price range, in connection with its IPO on the Egyptian Exchange (“EGX”). Gourmet’s shares have been listed on the EGX on Wednesday 21 January 2026 under the ticker symbol GOUR.CA.
The Private Tranche (as defined below) was 12.22x oversubscribed. At the Offer Price, the market capitalization of Gourmet is EGP 2.76bn
The Offering includes (i) a private tranche available for qualified institutional investors and high net-worth individuals in Egypt (the “Private Tranche”) and (ii) a public tranche open for public subscription in Egypt (the “Public Tranche”) (collectively the “Combined Offering”).
The Combined Offering will consist of up to 152,413,459 shares for the Private Tranche and a further 38,103,365 shares in the Public Tranche.
The selling shareholders are B Investments Holding S.A.E. (“B Investments”), Basem Abu-Gazaleh, Jalal Abu-Gazaleh, Deema Abu-Gazaleh and Amgad Sultan (together with B Investments, the “Selling Shareholders”).
Subscription for the Public Tranche is set to close on 4 February 2026. Commencement of trading on the EGX is expected on or around 9 February 2026, subject to completing settlement procedures, regulatory approvals and certain customary conditions associated with the Offering
Michael Wright, the Chairman of Gourmet, said:
“We are pleased with the positive demand for Gourmet’s IPO, which is an indication of investors’ confidence in our business and our future growth. This level of demand reflects Gourmet’s solid market position, its commitment to quality, and its ability to meet the needs of premium, quality-conscious consumers. We are delighted by the participation of our new shareholders and look forward to sharing this exciting journey as we strive to continue to grow and expand.”
EFG Hermes Promoting & Underwriting acted as the sole global coordinator and bookrunner for the Offering. MHR & Partners, in association with White & Case, acted as local counsel to the Company in connection with the Offering.
About Gourmet
Gourmet was founded by Jalal Abu-Gazaleh in 2006 and in 2008, the Company commenced its retail operations, marking the beginning of its transformation into Egypt’s leading premium food retail platform. With a strong commitment to quality, Gourmet has steadily evolved its retail footprint and diversified its offerings to include a wide range of food and beverage private label products.
In 2015, amid macroeconomic shifts and foreign currency challenges, the Company launched Gourmet Food Solutions (“GFS”), a wholly owned manufacturing subsidiary, becoming one of the first movers in Egypt to vertically integrate premium grocery retail with in-house food manufacturing. GFS enabled the Company to reduce import dependence, enhance margins, and scale its exclusive “Produced by Gourmet” product lines—now a cornerstone of Gourmet’s differentiated retail proposition. Gourmet was also among the first grocery retailers in Egypt to launch a proprietary e-commerce and mobile application, establishing an early digital distribution channel alongside its physical store network.
As the Company entered its next phase of growth, B Investments acquired a majority stake, which brought in capital to accelerate expansion. Since then, Gourmet has scaled its retail network, invested in operational infrastructure, and grown its delivery and e-commerce platforms. As of 2024, approximately 35% of sales are generated through delivery, with the remaining approximate 65% from walk-in customers.
Today, Gourmet stands as a premier brand in Egypt’s grocery landscape—renowned for its curated product selection, exclusive offerings, and a seamless customer experience. The Company’s portfolio includes both mainstream grocery items and high-margin private label products under the “Produced by Gourmet” brand. These lines are recognized for their premium taste, quality, consistency, and convenience, supporting both customer loyalty and profitability.
GFS operates two main production facilities that manufacture meat and poultry. It also runs eight specialized kitchens producing ready-made meals, oriental dishes, salads, dairy products, bakery items, pasta, and pastries. This integrated production model allows the Company to control the entire value chain—from sourcing to final sale—ensuring product quality and supply consistency. GFS also supplies to select third-party clients, such as Cairo International Airport and premium HORECA operators, further underscoring its industry credentials.
Gourmet currently operates 21 strategically located stores across Greater Cairo (East & West Cairo, Downtown, Heliopolis, and Maadi), Alexandria, El Gouna, and seasonal outlets in the North Coast. The Company targets affluent, quality-conscious consumers who prioritize product quality and shopping experiences, and who have demonstrated resilience to broader macroeconomic trends.
Gourmet reported consolidated revenue of EGP 2,118 million in 2024 and EGP 2,085 million for the nine months ending September 2025, achieving 39.6% growth compared to the nine months ending September 2024. Adjusted EBITDA reached EGP 293 million and EGP 281 million in the respective periods, with Net Profit of EGP 135 million in both 2024 nine months ending September 2025.
As of October 2025, the Company maintained a healthy balance sheet with EGP 274 million in cash and cash equivalents and minimal bank debt of EGP 29 million. Following the Offering, the Company intends to pay dividends pursuant a dividend policy that will be set to reflect the cash flow generation of the Company and considers potential investment and growth opportunities.
