El Jannah acquisition by General Atlantic will power global growth

El Jannah, the homegrown, family-owned charcoal chicken chain, has been acquired by US private equity firm General Atlantic, in a deal reportedly valued close to $1 billion.

This significant investment signals a major push toward accelerated domestic and international growth for the QSR.

El Jannah CEO Brett Houldin told Franchise Executives, the partnership is a good match.

“Bringing on General Atlantic is about us being able to fuel growth for the next five years, reaching more markets, both domestically and overseas. General Atlantic has partnered with families and founders globally. It was the right-aligned partnership to keep the soul and authenticity of El Jannah yet support our plans for growth,” he said.

General Atlantic manages about $118 billion in assets globally. It has invested in Aussie fashion brand Zimmerman, and a range of high-growth food and beverage companies including Joe & The Juice.

Neal Kok, managing director and head of Southeast Asia and Australia at General Atlantic, said “El Jannah is one of the most distinctive and exciting restaurant offerings we have seen in Australia.

“We are privileged to support the business in its next leg of expansion and proud to partner with Brett and the Estephan family as they bring El Jannah to more communities across Australia and, in time,  internationally.” 

The founders, Andre and Carol Estephan, will remain actively involved in the business. The couple, alongside Houldin, retain a material stake in the 50-store chain.

The leadership and management team will continue to drive growth

Houldin and the existing management team will continue to run the business and oversee the execution of the growth plan.

In a press release, General Atlantic pointed to key new locations for El Jannah next year:

• New South Sales – Cranebrook, Cronulla, Emerald Hills, Maroubra, North Rocks, Ropes  Crossing, Rozelle, Rutherford (Hunter Valley), Sydney CBD and Warringah Mall.
• Victoria – Armstrong Creek, Ashburton, Box Hill, Carrum Downs, Corio,  Cranbourne East, Cranbourne West, Hawthorn, Ivanhoe, Lilydale, Roxburgh  Park, South Yarra, Sunbury, Wollert and Wyndam Vale. 
• ACT – Woden. 

Long term international expansion may include exporting the Australian-Middle Eastern flavour profile back to the Middle East.

For the franchisee network, the investment signals an enhanced commitment to expansion and opportunity. Many of the franchisees are highly motivated to expand, Houldin said.

“We’ve had good conversations with franchisees. There will be no change for franchisees. This investment ensures more opportunities for them to grow, to open more restaurants, and build their teams” he said.

The Lebanese-born Estephans started El Jannah in Granville, Western Sydney, in 1998. The charcoal chicken chain stayed a local success story for years, developing a cult following for its Lebanese-inspired food and hospitality.

In 2023 the business received a five-star franchise rating.

Houldin joined the business in 2020 after five years leading Craveable Brands. Since he joined El Jannah has grown its number of restaurants from five to 50, with 160,000 weekly transactions.

• This story was originally published on Franchise Executives.

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