The founders of Saudi-based Jumlaty & Egypt-based Appetito, two e-Groceries & food-tech startups, have announced today that they are merging into a new entity, NOMU. The merged entity, NOMU, aims to become MENA’s food-tech supply chain platform, focusing on Families & Food & Beverage Businesses.
NOMU, a new holding group that emerged out of the merger of KSA based Jumlaty and Egypt based Appetito, is rapidly establishing itself as a key player in the food tech supply chain and eGrocery space, with operations across Gulf/MENA and serving households and F&B businesses. The joint forces of Jumlaty and Appetito will take advantage of a smart grid of 16 warehouses across MENA and NOMU poses to become the leader in the domain while putting emphasis on reliability, profitability and technology.
Shehab Mokhtar, former CEO of Appetito and now CEO of NOMU, has expressed his views about the new developments of his company:
“Appetito & Jumlaty have been, separately but similarly, working hard to reinvent the Groceries supply chain. Both have focused on reliability (vs Speed) and affordability, building a solid reputation and a loyal customer base of Families and F&B businesses. Our merger will set us on the path to reach 200mSAR revenue [54mUSD] and positive EBITDA within 2023, with important synergies on the tech, marketing & procurement fronts.”
This deal was facilitated by a common mindset & direction. Salman Attieh, former CEO of Jumlaty, now Chairman of NOMU, commented:
“Both companies shared the same vision about how to transform our industry, combining smart tech, lean operations with a deep focus on unit economics. Combined we capture the entire value chain; from monthly shopping to weekly refills and outdoor dining. Most importantly our journey, now as one company, will be accelerated thanks to an incredible team of international talents and supportive investors.”
The new entity is now present in 4 countries, Saudi, Egypt, Tunisia, and Morocco, with a smart grid of 18 warehouses and a capacity to cover with the existing infrastructure 25 million people and 100.000 F&B stores, with delivery ranging from 1 hour to next day.
Speaking of the growth the company aims to achieve in the coming months, the companies are redeploying their tech talent towards advanced AI-based dynamic pricing algorithms-the new community-oriented features (group buying, loyalty & embedded finance). On the marketing front, they will keep local brands where it makes sense, and all their apps in all countries will use an everyday tech & growth platform.
In addition, NOMU will have its headquarters in Riyadh, with a holding structure in Abu Dhabi’s International Financial Centre, placed to develop its operations further, with ambitions to cover Pakistan and key sub-Saharan countries soon.
For further information, visit https://www.nomu.group/.
Media Contact
Organization: NOMU
Contact Person: Salman Attieh
Email: salman@nomu.group
Phone: +9665666000010
Website: https://www.nomu.group/
City: Riyadh
Country: Saudi Arabia
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