Up to three bidders could submit offers to buy a majority stake in Kuwait Food Company (Americana) ahead of a deadline for second-round bids in mid-October, sources aware of the matter told Reuters.
One of the bidders, Savola Grou
Kuwait Food Company (Americana) said on Monday that it had no knowledge of any talks with Saudi Arabia's Savola Group on a possible acquisition of Americana.
"The board and executive administration deny knowledge of any n
Some of the world's major provate equity firms are showing interest in acquiring Americana, the Kuwaiti operator of major food chains.
Americana, the operator of KFC, TGI Friday’s, Krispy Kreme and Red Lobster in Kuwait,
Kuwait's billionaire al-Kharafi family is looking to sell Americana, one of the Middle East's largest food companies, and has hired bankers to explore a deal, four sources familiar with the matter told Reuters.
There is no
Kuwait-based Kout Food Group has bought British roadside dining chain Little Chef for about 15 million pounds ($23 million).
Kout, which also owns the Maison Blanc bakery chain in southern England and more than 40 Burger King and
Europe's top food makers are under pressure on two fronts. With rampant commodity costs forcing them to raise prices, hard-pressed consumers are opting for cheaper products while critics insist that the industry is milking the situation.