Americana Said to Eye Adding Five Guys to Gulf Franchise Empire

Americana Restaurants International Plc is exploring a deal to buy the Middle Eastern operator of brands including Five Guys and Cinnabon, according to people familiar with the matter, in a move that would further expand its network of international food franchises.

The firm is in talks to acquire Cravia Inc.from its private equity owner, Fajr Capital, the people said, asking not to be identified discussing confidential matters. Talks are at an early stage, and there is no certainty a deal will be reached, they added.

Still, a transaction would mark a significant addition to Americana’s portfolio, which includes ...