Saudi Arabia’s leading food delivery app, Jahez, is set to acquire a 76.56% stake in Qatar’s rapidly growing on-demand delivery platform Snoonu in a strategic USD 245 million transaction.
This move marks the delivery app’s bold expansion into the Qatari market and solidifies its position as a regional logistics powerhouse.
Under the terms of the agreement, Jahez will acquire 8,144,546 existing shares, equivalent to 75% of Snoonu’s share capital, for USD 225 million, using a blend of cash and shares.
Additionally, Jahez will invest USD 20 million in newly issued Snoonu shares, accounting for 1.56% of the company.
Upon completion, the platform will hold 76.56% of Snoonu, with founder and CEO Hamad Mubarak Al Hajri retaining the remaining 23.44% stake. The acquisition is expected to close in the second half of 2025, pending regulatory approvals and customary conditions.
Financing will be supported by Jahez’s cash reserves, existing bank facilities, and its treasury share holdings.
Despite the majority stake change, Snoonu will continue operating under its own brand, with a post-deal valuation of approximately USD 320 million. EFG Hermes KSA served as financial advisor, while Kirkland & Ellis provided legal counsel for the deal.
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Jahez Strategic Expansion into GCC Delivery Markets
Founded in 2016, Jahez has become a major force in Saudi Arabia, Bahrain, and Kuwait, offering food, q-commerce, last-mile delivery, digital logistics, and cloud kitchen services.
Snoonu, launched in 2019, mirrors Jahez’s model but in Qatar, delivering food, groceries, pharmaceuticals, and e-commerce parcels to consumers across multiple verticals.
By acquiring Snoonu, Jahez strengthens its regional footprint and positions itself as a pan-GCC delivery leader. This strategic move taps into Snoonu’s established delivery infrastructure and customer base, accelerating diversification and scaling ambitions across international borders.
Why It Matters
This acquisition signals a new era of regional consolidation in the MENA delivery sector. Jahez’s move demonstrates confidence in cross-border expansion, market integration, and operational synergy.
For Snoonu, the deal provides access to capital, tech resources, and logistics expertise to accelerate service enhancements and market reach.
As unified delivery platforms gain dominance across GCC markets, the delivery platform is emerging not just as a Saudi champion, but as a potential GCC-wide logistics ecosystem, backed by growing investor interest and digital commerce tailwinds.
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