Abu Dhabi, UAE – The Emirates Growth Fund announced an investment injection worth AED 45 million as a minority stake in Carney Store, the leading Emirati brand in the field of producing luxury protein products in the UAE.
The investment combines expertise in exclusive sourcing, production, and retail across digital channels to raise food standards across the UAE. This investment, the Fund’s first in the food sector, represents a pivotal milestone that reflects the Fund’s commitment to building pioneering Emirati companies with high competitive capacity. It contributes to strengthening local value chains and supporting the resilience of the national economy. Consolidating the elements of food security and self-sufficiency for the country.
active investments
Khalifa Al Hajri, CEO of the Emirates Growth Fund, said that the Fund’s investment in Carney Store reflects its commitment to supporting UAE small and medium-sized companies with high potential. Through strategic capital and effective partnership. Stressing the continuation of investments actively, in line with the commitment to long-term support for companies in the Emirates. By working alongside it to implement its growth ambitions.
He added that in addition to investing in growth capital, work is being done with the founders to enhance market entry strategies, consolidate governance, and build institutional capacities. Therefore, Carney Store represents a model of leadership and quality that we look for in national companies capable of transforming into giant and sustainable national tributaries in their sectors.
Building strong national companies
For his part, Fikri “Fix” Boutros, co-founder and co-CEO of Carney Store, said that the partnership with the Emirates Growth Fund is only a natural step in our journey. We share the same vision of building strong national companies based on solid foundations and a long-term vision.
He added that from day one, the focus has been on raising the standards of high-quality meat and protein products, and supporting the growing food community in the UAE. He expressed his aspiration to continue building, reach wider segments of consumers, and reshape the experience of sourcing meat from the local market.
