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Asharq Al-Awsat
Asharq Al-Awsat
Business
Jeddah - Asharq Al-Awsat

SEDCO Holding Announces Completion of Sale of Arabian Entertainment Company

Saudi Arabia AEC Applebee Los Angeles
The sale of AEC represents an exit by SEDCO Holding from the F&B foodservice sector as part of its strategy to focus on core businesses.

SEDCO Holding, one of the largest family-owned investment groups in Saudi Arabia, announced on Thursday the completion of the sale of Arabian Entertainment Company Limited (AEC) to GLD Partners LP, a Los Angeles based privately held, alternative investment management firm.

AEC operates 17 casual dining restaurants throughout Saudi Arabia and is the local franchisee for Applebee’s Neighborhood Grill + Bar®️, one of the world’s largest casual dining brands.

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