Face Holdings Pty Ltd, an Australian micro-bakery cafe chain
specializing in sweet and savoury pies with a US subsidiary which
recently opened seven Pie Face stores in Manhattan, will expand its
operations into the Middle East as a result of the signing of a major
agreement with the hospitality division of Landmark Group, a Dubai-based
retail and hospitality conglomerate with operations in retail,
hospitality, leisure, health and wellness.
Foodmark, a division of Landmark Hospitality has committed to opening a
minimum of 100 Pie Face stores in the UAE, Saudi Arabia, Kuwait, Bahrain
and Qatar over the next ten years. A number of commissaries will also be
opened, to support specialist production of Pie Face products for the
Pie Face entered its first foreign market, the United States, in early
2012 when it launched in Manhattan, was featured on Late Night with
David Letterman and attracted US$15 million for its Manhattan roll
out from Steve Wynn (the founder and CEO of Wynn Resorts).
Pie Face recently entered the New Zealand market with partners Julian
Field and Jared Palmer who opened their first store in Auckland on
September 1, 2013 and are committed to open 62 Pie Face stores across
the North and South Islands over the next 10 years.
The company is also in discussions with potential partners in Indonesia,
Japan, India and Canada.
Pie Face retained Univest Consultancy Group, W.L.L, a global advisory
firm based in Kuwait, to advise on Pie Face’s entry into the Middle East
and conduct the search for the most suitable partners for the region.
Landmark was selected due to its strong track record in retailing in the
region, its commitment to growing the region’s food and beverage sector,
and its enthusiasm for the Pie Face brand and business model.
Wayne Homschek, co-Founder and CEO of Pie Face, said “We're excited
that our work with Univest has led us to be in partnership with a group
such as Landmark Group in this region. The Group has a 40-year track
record in the Middle East, is the largest retail tenant in the region
with over 22 million square feet of retail space and over 45,000
employees and has a dedicated and experienced food services team.”
Kieran Mallon, COO of Foodmark, the food &. Beverage division of Landmark
Hospitality, said, “We're thrilled to be in partnership with Pie Face
and it marks our entry into the bakery café segment. It's our endeavour
to keep introducing new concepts to the region and Pie Face is a
globally unique concept with a fantastic product, a quirky brand, a
fantastic business model and an experienced management team. We look
forwards to making this an iconic brand and delighting customers in the
Middle East with a completely new offering.”
Khaled El-Marsafy, Vice Chairman of Univest, said “Pie Face offers
superior-quality, fresh-baked products complemented with great coffee.
This provides Landmark Hospitality a unique opportunity to enter and
penetrate the Middle East coffee market with such an innovative bakery
café brand. Univest is proud to have brought Pie Face and Landmark
Hospitality together and will continue to support Pie Face through our
Dubai based office dedicated to the food and beverage industry.”
Pie Face was advised by the law firm Golenbock, Eiseman, Assor, Bell and
Peskoe LLP, New York, New York
About Pie Face
Pie Face is an 80-unit micro bakery café chain founded in Sydney,
Australia in 2003. It's currently operating in Australia, New Zealand
and the United States, with plans for entry into additional
international markets in the next 12-24 months. The Company makes savoury
and sweet pies, pastries. Other baked products from scratch in
addition to serving gourmet espresso and filtered coffee through its
“wake me up” coffee range. Pie Face launched in Manhattan in early 2012
and now has seven company owned/operated stores operating profitably.
The Company operates a “hub and spoke” business model whereby it builds
independent commissaries in each major market it enters where all pastry
products are made from scratch. The products are shipped to its stores
where they're baked fresh 24 hours per day.
Foodmark is the food and beverage arm of Landmark Hospitality.
Established in 2007, Foodmark operates a number of internationally
franchised restaurants within the UAE, Kuwait and Qatar including
Carluccio’s, Chi’Zen, Mango Tree and Max’s Restaurant. Foodmark launched
has its own brand restaurant, Zafran in July 2010. Foodmark also has
joint ventures with Ushna, The Meat Company, La Gaufrette and Bazerkan.
The latest addition to the Foodmark portfolio has been Max Burger, a
burger franchise from Sweden.
For more information please visit, www.landmarkgroup.com.
About Univest Consultancy Group, W.L.L
Univest Consultancy Group, W.L.L is a Middle East based investment
advisory firm that actively leverages its extensive global partnerships
and seasoned network to systematically identify. Directly access and
efficiently short list the most unique opportunities in the
ever-changing international markets. As a result, Univest Group
facilitates rare sought after opportunities on an exclusive basis to its
clients worldwide. Univest Group is proud to bridge the gap across
boundaries and provides its clients in the MENA region with direct
access to capitalise on these attractive investment opportunities at the
right stage of investment.
Kimberly Yorio, 212-609-5009