The Public Investment Fund to acquire stake in Americana Group, the region’s leading restaurant and food manufacturing group

The Saudi Arabian Public Investment Fund (“PIF”) announces that, through a wholly-owned subsidiary, “The Saudi Company For Gulf Food Investments”, it will be acquiring a fifty per cent stake in Adeptio AD Holdings SPC Ltd. (“Adeptio Holdings”), from the United Arab Emirates-based investor H.E. Mohamed Ali Rashed Alabbar.

 

This follows the recent acquisition by Adeptio Holdings’ wholly-owned subsidiary, Adeptio AD Investments SPC Ltd (“Adeptio”), of a 67% stake in Kuwait Food Company (Americana) K.S.C.P. (“Americana”), the Middle East’s leading restaurant, food processing, distribution and retail company. Following the acquisition of this stake in Americana, Adeptio will launch a mandatory tender offer for the remaining shares in Americana held by public shareholders.

 

H.E. Mohamed Ali Rashed Alabbar will retain a fifty per cent stake in Adeptio Holdings, alongside PIF.

 

Since its inception in Kuwait back in 1963, Americana Group has grown into one of the region’s most successful corporations, with operations across 13 countries and having over 60,000 employees. It is the largest operator of restaurant chains in the MENA region and one of the world’s most successful franchise operators. In the food manufacturing and processing sector, Americana has an expansive portfolio spanning a number of high quality brands.

 

The transaction forms part of the Public Investment Fund’s efforts to increase investment in non-oil sectors and build a portfolio that has greater geographical and asset class diversification, and which delivers attractive long-term financial returns for Saudi Arabia.