Al Fakher
 | |
| ISIN | 🆔 |
|---|---|
| Industry | Heated Tobacco Products |
| Founded 📆 | Jordan (1999) |
| Founder 👔 | |
| Headquarters 🏙️ | , , United Arab Emirates |
Area served 🗺️ | Worldwide |
Key people | Des Naughton, CEO |
| Products 📟 | Double Apple Grape Mint Bases |
| Revenue🤑 | JOD 93,3 million (Mar. 2019)[1] |
| Members | |
Number of employees | |
| Parent | Al Eqbal Investments Co PLC |
| 🌐 Website | {{URL|example.com|optional display text}} |
| 📇 Address | |
| 📞 telephone | |
Al Fakher for Tobacco Trading & Agencies LLC, commonly known as Al Fakher (Arabic: الفاخر), is a producer of flavoured Mu‘assel tobacco for use in a hookah pipe which is also known as waterpipe, shisha, n´argileh, cachimba and qalyan.
Al Fakher is the worlds leading manufacturer and supplier of shisha tobacco in a global market estimated to be worth US$2 billion and expected to grow by a further 50 percent in the coming years.[2]
The company's name is derived from the arabic words for ´The´ or ´Al´ and ´Luxurious´ or ´Fakher´. Al Fakher´s hookah products consist of a mixture of fine cut tobacco leaf, mu´assel and food grade flavourings.
Al Fakher was acquired in 2006 by Al Eqbal Investments Co PLC. Al Fakher is the largest subsidiary of Al Eqbal Investments Co PLC which is based in Amman, Jordan and is listed on the Amman Stock Exchange under the ticker ASE:EICO.[3]
Takeover[edit]
In November 2020 Kingsway Capital, a British investment company, acquired Al Eqbal Investments Co and its main subsidiary, Al Fakher, for USD 1.4 billion.[4][5] The Jordanian government approved the takeover after successfully resolving a tax dispute giving the green light for one of the first public-to-private transactions to take place for a company which is listed on the Amman Stock Exchange.[6]
Operations[edit]
In May 2017 Mr Des Naughton, a former British American Tobacco PLC board member[7] and Mananging Director of Vype e-cigarette maker Nicoventures, was appointed Chief Executive Officer of Al Fakher for Tobacco Trading and Agencies.[1]
Des Naughton replaces long term CEO Samer Fakhouri. During Mr Fakhouri´s eleven year tenure as CEO he oversaw the expansion of international exports from exporting to 20 countries to 85 countries.[3]
Al Fakher´s global corporate headquarters are located in the United Arab Emirates with factories located in Poland, Egypt and the United Arab Emirates.[3]
Al Fakher manufactures over 60 different flavoured hookah tobacco products. Their products are exported to 85 countries.[8]
References[edit]
- ↑ 1.0 1.1 "Twenty Seventh Annual Report 2018" (PDF). Al Eqbal Investment Co Plc. 26 March 2019. Retrieved 27 April 2020.
- ↑ Halligan, Neil (7 November 2019). "Is shisha really as bad for you as the world health experts say?". Arabian Business. Dubai. Retrieved 30 June 2020.
- ↑ 3.0 3.1 3.2 Ghawi, Samir (10 August 2015). "Flavoured molasses yields bonanza for Jordan's Al-Eqbal Investment Co". The Jordan Times. Retrieved 30 June 2020.
- ↑ Bhadare, Sandy (23 November 2020). "Kingsway Capital takes leading branded shisha producer private". The International Comparative Legal Guides. Retrieved 24 November 2020.
- ↑ Bossi, Paolo (17 November 2020). "Kingsway Capital's Take-Private Of Al Eqbal Investment". Global Legal Chronical. Retrieved 24 November 2020.
- ↑ Pacheco, Filipe; Tayseer, Mohammed (18 June 2020). "Tax Dispute Blocks $1.1 Billion Shisha Maker Deal in Jordan". Bloomberg Tax. Retrieved 24 November 2020.
- ↑ Gordon, Ollie (20 November 2014). "Des Naughton resigns from Nicoventures: British American Tobacco loses ecigarette managing director". CityAM. London. Retrieved 27 April 2020.
- ↑ Wadlow, Tom (4 September 2016). "Q&A with Al Fakher Tobacco CEO Samer Fakhouri". Business Chief. Retrieved 30 June 2020.
External links[edit]
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