Saudi-based food delivery and logistics platform Jahez International has signed a Share Purchase and Subscription Agreement (SPSA) to acquire a 76.56% stake in Qatar’s Snoonu for $245 million (SR 919 million), as disclosed on the Saudi stock exchange. The deal involves purchasing 8.14 million existing shares (75% of Snoonu’s share capital) for $225 million and subscribing to 723,960 new shares for $20 million.
Valued at approximately QAR 1.17 billion ($320 million), Snoonu becomes the first Qatari startup to surpass the QAR 1 billion mark. The transaction is expected to close in the second half of 2025, pending regulatory approvals and shareholder vote at Jahez’s extraordinary general meeting.
Post-acquisition, Jahez will hold 76.56% of Snoonu, with founder Hamad Al-Hajri retaining 23.44% and continuing as CEO, supported by the existing executive team. A new board will include three Jahez representatives, including the chairman, and one from Al-Hajri.
Founded in 2019, Snoonu offers integrated e-commerce, food and grocery delivery, retail services, and third-party logistics solutions for startups and SMEs. The acquisition supports Jahez’s strategy to expand regionally and enhance platform synergies across the GCC. The $20 million capital injection will fund Snoonu’s innovation and market growth. The agreement includes standard terms, warranties, and share lock-up periods regulated by Saudi Arabia’s Capital Market Authority.
