Logo ofGhida Alsultan for Fast Food Co.
Ghida Alsultan for Fast Food Co. signed on Feb. 9, an acquisition agreement to fully purchase Simple Burger Establishment for meal services, for a total value of SAR 23.8 million, to be paid in three installments after meeting the agreed conditions. 
In a statement to Tadawul, the company said the transaction will be funded through its internal resources, noting that a positive financial impact is expected to materialize after completion of the deal, subject to obtaining final regulatory approvals.
The company added that the agreement is subject to approvals from the relevant regulatory authorities, as well as approval from the ordinary general meeting (OGM), in accordance with Articles (27) and (71) of the Companies Law, due to an indirect interest of the Chairman, Arif Al Misbahi, and CEO, Majid Al Misbahi, arising from a family relationship with the owner of the target establishment.
It noted that Simple Burger, operating in the food service sector with a focus on burger meals, was established in late 2022, began with a single branch, expanded to a second branch by the end of 2024, and is now in a phase of ongoing growth and expansion.
According to the company, the establishment recorded revenues of SAR 11 million in 2023, SAR 14.4 million in 2024, and approximately SAR 19.07 million in 2025.
The company stated that the acquisition aims to support its investment strategy by expanding in the fast-food sector and capturing growth opportunities in related markets.
According to Argaam data, Ghida Alsultan announced in November the signing of a non-binding memorandum of understanding (MoU) to acquire 100% of Simple Burger Establishment.
Logo ofGhida Alsultan for Fast Food Co.
Ghida Alsultan for Fast Food Co. signed on Feb. 9, an acquisition agreement to fully purchase Simple Burger Establishment for meal services, for a total value of SAR 23.8 million, to be paid in three installments after meeting the agreed conditions.
In a statement to Tadawul, the company said the transaction will be funded through its internal resources, noting that a positive financial impact is expected to materialize after completion of the deal, subject to obtaining final regulatory approvals.
The company added that the agreement is subject to approvals from the relevant regulatory authorities, as well as approval from the ordinary general meeting (OGM), in accordance with Articles (27) and (71) of the Companies Law, due to an indirect interest of the Chairman, Arif Al Misbahi, and CEO, Majid Al Misbahi, arising from a family relationship with the owner of the target establishment.
It noted that Simple Burger, operating in the food service sector with a focus on burger meals, was established in late 2022, began with a single branch, expanded to a second branch by the end of 2024, and is now in a phase of ongoing growth and expansion.
According to the company, the establishment recorded revenues of SAR 11 million in 2023, SAR 14.4 million in 2024, and approximately SAR 19.07 million in 2025.
The company stated that the acquisition aims to support its investment strategy by expanding in the fast-food sector and capturing growth opportunities in related markets.
According to Argaam data, Ghida Alsultan announced in November the signing of a non-binding memorandum of understanding (MoU) to acquire 100% of Simple Burger Establishment.
