Adeptio to buy a majority stake in Kuwait’s Americana


February 7, 2016 | By RetailME Bureau

Dubai-based investment company Adeptio, a group of Gulf investors backed by Emaar chairman Mohamed Alabbar, has reportedly signed a preliminary agreement to buy a controlling stake in Kuwait Food Company – known as Americana that owns the Middle East franchises for fast food chains KFC and Pizza Hut – against a price in the range of $1.7 billion.

The consortium has agreed to buy 69% stake in Americana from Al Khair National for Stocks and Real Estate Company owned by Kuwaiti Al Kharafi family. After due diligence and acquisition of Al Khair’s stake, Adeptio plans to launch a mandatory takeover offer for Americana in accordance with the rules and regulations of the Kuwaiti Capital Markets Authority and Kuwait Stock Exchange.

“Americana is a truly unique asset with a long and successful history. We see a bright future for Americana and look forward to working with management to realise the significant growth potential in the business going forward,” says Alabbar.

“This represents an important milestone for Americana. We have no doubt that under Alabbar’s leadership Americana will be able to reach new heights as the leading food and quick service restaurant group in the region,” adds Americana board member Loay Jassim Al Kharafi.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau




Download Images RetailME Magazine