KUWAIT: Al-Kharafi reportedly eyeing Americana sale
American is rumoured to be up for sale
Middle East food manufacturer Americana Group is reportedly being touted for sale by its majority shareholder.
According to Reuters, the Kuwaiti billionaire Al Kharafi family that owns the business is working with investment bank Rothschild to approach potential buyers, including private-equity firms and sovereign wealth funds in the region, to explore their interest in the company.
The report said the Kharafi family holds 66.8% of Kuwait Food Company, which sells goods under the brand name Americana, through private investment firm MAK.
Americana manufactures frozen foods including California Garden beans and Farm Frites, as well as being a franchise operator of some restaurants including KFC and Pizza Hut.
No-one at Americana was available to comment when approached by just-food. Rothschild did not respond to requests for comment.
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Challenges for General Mills with The Good Table
- Why investors are concerned about water risk
- Greek crisis: The impact on shopper behaviour
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Hearthside to buy nutrition bar maker VSI
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- Probiotic Ingredients Market by Function, Application, End Use, Ingredient, and by Region - Global Trends & Forecast to 2020