Abu Dhabi based investment company, SANAD AD has announced a minority investment in local food and beverage company Slices.
Founded in 2012, Slices is a homegrown food and beverage company based in the UAE that is focused on transforming eating habits across the country by providing wholesome, nutritious meals to school children. The company received initial funding support from the Khalifa Fund for Enterprise Development (KFED).
Faisal Al Hammadi, Chief Executive Officer of Slices, said “We are very excited with this new partnership that we have forged with SANAD AD, which is a result of years of studying the market, understanding its challenges, and developing solutions that will allow our business model to remain competitive in the market and continue to grow Year-on-Year.
He added that “the investment from SANAD AD will now give us the key ability to move on to the next phase of our strategy, which entails expanding our presence across the UAE and later throughout the GCC market.”
The new strategic partnership is expected to help Slices in its continuing its efforts to provide nutritious meals within the education sector across schools in Abu Dhabi, Al Ain, Dubai, and Sharjah, improving the health of the next generation by reversing the rise of chronic lifestyle diseases such as diabetes.
Kamal Raza, Director of Investments at SANAD AD, explains that there is an alignment of core values between SANAD AD and Slices, in the provision of healthy outcomes for children.
“Our investment in Slices reinforces our focus on community health and playing our part in providing high-quality health resources to residents and nationals of the UAE,” said Raza.
Meanwhile, Abdullah Al Darmaki, CEO of KFED, extended his congratulations to Slices on its latest achievement. He shared that the latest development is just one of the many success stories of SMEs that the Fund has invested in over the years.
“We are truly proud of Slices and their new investment partnership with SANAD AD. Their success reflects KFED’s strong commitment towards promoting a culture of entrepreneurship among Emiratis and encouraging growth and development across local SMEs,” Al Darmaki said.