Saudi Arabia-based specialty coffee chain Barn’s is gearing up to enter the public market with plans to launch its initial public offering (IPO) in 2024, according to a report from the World Coffee Portal.
Founded in 1992 by the Al Amjaad Group, the coffee chain based in Jeddah runs a network of over 550 stores throughout Saudi Arabia, making it the largest market in the Middle East region.
Franchises account for over 70% of Barn’s stores in the region.
Al Amjaad Group CEO Mohamed Al Zain was quoted by the World Coffee Portal as saying, “Saudi Arabia’s recognition as the “coffee capital of the Middle East” is a testament to our passion for coffee and our commitment to fostering a vibrant coffee culture.
“We believe that this is just the beginning of our journey, and we look forward to further elevating Saudi Arabia’s standing in the international coffee community,” he said.
During Barn’s annual franchise meeting, Mohamed Al Zain articulated that the proposed IPO would empower the public to transition from loyal customers to becoming investors in the company’s success.
The coffee chain is set to achieve a global presence of 1,000 stores by the close of the 2020s, with the brand’s inaugural overseas expansion anticipated in 2024.
According to the report, the coffee chain will concentrate on extending its footprint in the Middle East and North African (MENA) markets. Additionally, it plans to broaden its presence in the UK, US, and Malaysia.
In July 2024, Barn’s finalized an agreement with Premier Fine Foods to launch stores not only in Malaysia but also in various Southeast Asian regions.
Premier intends to establish 25 Barn’s Coffee outlets in Kuala Lumpur, Malaysia.
Additionally, there are intentions to broaden the coffee chain’s footprint across Southeast Asia by inaugurating 300 stores by the year 2033.
