Appetito + Jumlaty tie up: Cairo-based grocery delivery startup Appetito and Saudi Arabia’s Jumlaty have merged to form a new company called Nomu in that they say is a bid to become the region’s leading food-tech supply chain platform, according to a joint statement out yesterday. Neither party released details about the merger, what triggered it, their post-transaction shareholding structure, or the company’s strategy going forward.

CEOs take the top jobs: Appetito CEO Shehab Mokhtar is now Nomu’s CEO while Salman Attieh, CEO of Jumlaty, is the chairman. The company will have its headquarters in Riyadh with a holding structure in Abu Dhabi’s International Financial Center.

Nomu has access to four markets: The company combines Appetito’s presence in Egypt, Tunisia and Morocco and Jumlaty’s operations in Saudi Arabia to give it access to four markets in the MENA region and 100k F&B stores, according to the statement.

Aiming big: The merger sees Nomu on track to deliver USD 25 mn in revenue and a positive EBTIDA in 2023, Mokhtar said.

What they said: “Both companies shared the same vision on how to transform the industry, combining smart tech, lean operations with a deep focus on unit economics. Together we capture the entire value chain, from monthly shopping to weekly refills and outdoor dining,” Attieh said.

Further expansion plans: Nomu aims to expand to Pakistan and key sub-Saharan countries in the near future.