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

SHARE

YOU MAY ALSO LIKE /


A new branch of Waitrose comes up in Abu Dhabi’s Khalifa City

British grocer Waitrose has opened its newest store in Abu Dhabi’s Khalifa 

Continue Reading

January 25, 2023 | By RetailME Bureau
Its Netherlands Food Week at Al Maya Supermarkets

UAE-based Al Maya Supermarkets has kicked off its ‘Netherlands Food Week’ that 

Continue Reading

January 20, 2023 | By RetailME Bureau
Tesco announces price lock to support consumers amid inflation (PC: Andrew Parsons / Parsons Media)

British grocery retail chain Tesco has announced a price lock on over 

Continue Reading

January 13, 2023 | By RetailME Bureau
Union Coop renews ISO certification

Dubai-based grocery retailer Union Coop has successfully obtained the ISO 22301, an 

Continue Reading

January 12, 2023 | By RetailME Bureau
Spanish supermarket chain Mercadona announces salary increase amid inflation (PC: Mercadona)

Spanish omnichannel supermarket chain Mercadona has announced salary increase amid inflation that 

Continue Reading

January 3, 2023 | By RetailME Bureau
Choithrams partners with Rove Hotels to open 8 new outlets

Grocery retail chain Choithrams will open eight convenience stores across Rove Hotels’ 

Continue Reading

December 30, 2022 | By RetailME Bureau
Géant to open more than 20 stores in the UAE in 2023

Part of regional retail conglomerate GMG, Géant plans to open more than 

Continue Reading

December 23, 2022 | By RetailME Bureau
FMCG online sales growing by 68% in UAE and 58% in KSA

Online share in FMCG sales has been growing all over the world, 

Continue Reading

December 19, 2022 | By RetailME Bureau
Majid Al Futtaim Retail, Standard Chartered launch region’s first Sustainable Supply Chain Finance Programme

Majid Al Futtaim Retail, operator of the Carrefour franchise in the Middle 

Continue Reading

December 15, 2022 | By RetailME Bureau
GMG and Silal partner to support 1,100 UAE farms access local retail market

UAE-based diversified conglomerate GMG and Silal have signed a memorandum of understanding 

Continue Reading

December 12, 2022 | By RetailME Bureau
Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine