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Cairo-based Native Markets Limited, the holding company for The Bakery Shop brand, recently acquired a majority stake in The Four Fat Ladies, an Egyptian bakery which specializes in traditional American desserts. Endeavor Entrepreneurs Tarek El Nazer, Sameh El Sadat, and Basel Mashhour started NML in 2008 and has grown the company to own and operate over 23 retail stores in Cairo and Alexandria.
Native Markets was founded with the vision of building a high-end retail bakery chain in Egypt under the brand name The Bakery Shop. In addition to retail stores, the company provides catering and B2B bread supplies to third party players in the Egyptian market. This partnership with TFFL is the latest milestone in NML’s growth strategy, which will add the award-winning brand to its portfolio, leverage the current infrastructure to support its scalability, and simultaneously develop both brands. The addition of TFFL to NML’s portfolio will take the group to the next level of customer experience enhancement.
Sameh El-Sadat, Co-Founding Partner and Chief Investment Officer at NML, commented on the partnership saying: “The Four Fat Ladies provides us with a new roll out strategy, in addition to the dessert know-how needed to complement the existing platform. The entrepreneurial experience garnered by TFFL’s founders allows them to lead a successful brand that would spearhead the desserts scene alongside TBS locally as well as regionally. Our decision to acquire TFFL and support its growth underscores our direction to expand on the success story of TBS by partnering up with promising brands and dedicated teams.”
Serving a full range of items from baguettes to pastries, TBS has experienced rapid growth since its founding and, after selection as Endeavor Entrepreneurs in 2011, began developing expansion plans to open more locations and bring its products to other regions. Endeavor has helped the entrepreneurs arrange a local advisory board of mentors as well as connect them with leading consulting firms to help refine and expand their business model.
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