American is rumoured to be up for 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.