VCBank, Al Sraiya, Turkey’s Mado in joint partnership

Manama  : The Bahrain-based Venture Capital Bank (VCBank) alongside Qatar’s Al Sraiya Holding Group (Al Sraiya) and other strategic investors announced a joint partnership with Mado Yasar Dondurma (Mado), Turkey’s largest patisserie and ice-cream café chain franchisor, yesterday.  

The deal was signed in Ankara  on Tuesday in the presence of Turkish Deputy Prime Minister, Veysi Kaynak, and M.Rifat Hisarciklioglu, President of the Union of Chambers and Commodity Exchanges of Turkey. 

Commenting on the deal, Abdullatif Janahi, CEO of VCBank said, “This marks VCBank’s third major investment in Turkey, a market on which we will continue to focus due to its solid fundamentals and strong economic prospects.” 

Janahi added: “For a number of years, Mado has delivered strong double-digit growth and we look forward to strengthen Mado’s presence in the GCC region, followed by other global markets.”

Rashid N. Al Kaabi, Vice Chairman of Al Sraiya, added, “Our partnership with Mado provides us with exposure to Turkey’s growing economy and in particular its F&B sector, where we see great promise and room for upside potential internationally.” 

Mehmet Kanbur, Chairman of Mado Group, added, “Together with VCBank, we especially look forward to expanding our presence in the Middle East, including Saudi Arabia.”