Egypt’s leading high-end food retailer, Gourmet Egypt for Food Products, has formally launched plans for a public listing on the Egyptian Exchange (EGX).
In an announcement, the Cairo-based company confirmed its intention to float 47.6% of its shares through an initial public offering (IPO), in what would be among the most significant equity transactions on the EGX so far in 2026.
The proposed Gourmet Egypt IPO is scheduled to conclude in February, pending regulatory clearances, with trading expected to begin soon thereafter.
The offering will be conducted as a secondary sale of up to 190,516,824 existing ordinary shares held by current investors.
Principal selling shareholders include B Investments Holding S.A.E. and members of the founding Abu Ghazaleh family.
Following the transaction, B Investments will retain a substantial 40% stake, underscoring continued confidence in the company’s trajectory.
Market participants will have access to the shares through two tranches: a private placement for qualified institutional investors and a public offering open to retail investors in Egypt.
Both tranches will be priced uniformly based on a book-building process, a common mechanism to determine fair market valuation for IPOs.
Gourmet Egypt has expanded steadily since its founding in 2006, evolving from a specialty food supplier into a fully integrated premium grocery retail platform.
The company now operates 21 stores across key urban and resort markets, including Greater Cairo, Alexandria, El Gouna and seasonal outlets on the North Coast.
Complemented by a robust e-commerce and home delivery network, Gourmet has diversified its operations to capture a growing base of quality-conscious consumers.
The company’s premium positioning distinguishes it from mass-market retailers.
Gourmet’s portfolio blends curated third-party brands with its own “Produced by Gourmet” private-label range, composed of artisan-style products such as ready-to-eat meals, bakery items and specialty food lines.
This strategy has improved profitability and reduced reliance on imports, a pivotal advantage in a market where supply chain volatility can significantly impact margins.
A wholly owned subsidiary, Gourmet Food Solutions (GFS), anchors the company’s vertical integration.
GFS manages multiple production units, including meat, poultry and specialized kitchens, which supply both retail outlets and select external clients such as premium hotels, restaurants and Cairo International Airport.
By controlling production and distribution, Gourmet strengthens its quality assurance and operational agility.
Gourmet’s financial performance in recent years illustrates robust growth. The company reported consolidated revenue of approximately 2.1 billion Egyptian pounds (EGP) for 2024, with revenue through September 2025 achieving nearly 40% year-on-year expansion.
Net profit for the year was recorded at 135 million EGP, while cash reserves and low debt underpin a healthy balance sheet as of late 2025.
The proposed IPO is designed to unlock value for existing shareholders and provide capital to support the company’s next growth phase.
Management has indicated that proceeds may be channeled into further expansion of the retail footprint, enhancement of delivery and e-commerce infrastructure, and scaling of manufacturing capacity through GFS.
Additionally, Gourmet intends to adopt a dividend policy aligned with its projected cash-flow generation post-listing.
The Gourmet Egypt IPO arrives as Egypt’s stock market seeks to broaden its investor base and strengthen market liquidity.
The EGX has been active in attracting new listings, with a mix of industrial, consumer and financial firms exploring public offerings amid a backdrop of economic stabilization and policy reforms aimed at enhancing market access.
EFG Hermes Promoting & Underwriting has been appointed as the sole global coordinator and bookrunner for the offering, reflecting its standing in managing large-scale equity listings across North Africa and the Middle East.
Local legal counsel is provided by MHR & Partners in association with international firm White & Case.
Finalization of the IPO remains contingent on approvals from Egypt’s Financial Regulatory Authority (FRA) and the EGX, including clearance of the public subscription notice.
Market conditions at the time of pricing will play a critical role in determining investor appetite and valuation levels.
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