Riyadh – Sharikat Mubasher: Saudi gourmet food producer and café chain Bateel International LLC is said to be considering an initial public offering in Riyadh, as reported by Bloomberg.

The company is working with Morgan Stanley on the potential deal and has also approached local banks, though discussions remain at an early stage with no details yet on size or timing.

Bateel’s majority shareholder is the Al Sudairi family, while private equity firm L Catterton, backed by French luxury group LVMH, holds about 20%. It is unclear whether either shareholder would sell part of its stake.

A spokesperson said Bateel is focused on strengthening its global footprint, without confirming IPO plans. The firm, led by CEO Nurtac Afridi, is pursuing an international push that includes more than doubling its store count by 2029 and tripling revenues from its cafés and luxury outlets.

If it proceeds, Bateel would join a growing list of Saudi consumer brands tapping the capital market, as the kingdom seeks to diversify its economy. IPO activity in Riyadh has raised over $3.5 billion this year, though weaker oil prices and valuation concerns have weighed on investor sentiment.

Founded in the 1930s as a date-farming venture, Bateel has grown into a global luxury food brand with boutiques across the Middle East, Asia, and Europe.