Major Saudi Arabian food producer Savola Group said on Tuesday it had conducted preliminary talks with one of the largest shareholders in Kuwait Food Co (Americana) on a potential purchase of that shareholder's stake.
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
Major Saudi food producer Savola Group said on Wednesday it had begun preliminary talks on a potential acquisition of Kuwait Food Company (Americana) , one of the Middle East's largest food companies.
Savola has attended an in
Kuwait Food Company, which sells food products under the Americana brand name, reported an 8.7 per cet increase in second-quarter net profit.
The company made a profit of KD12.80 million ($45.2 million) compared with KD11.78 milli
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 Food Company (Americana) said on Sunday it had no knowledge of any firms interested in buying its business, contrary to recent media reports.
"The administration of the company has no knowledge of this matter. The admi
Private-equity firms KKR & Co LP and TPG Capital are among the groups looking to buy a majority stake in food retailer Kuwait Food Co SAK, better known as Americana, Bloomberg reported, citing people familiar with the matter.
Kuwait Food Co, which sells goods under the Americana brand name, reported a 10.4 percent increase in first-quarter net profit on Sunday.
The company made 18.1 million dinars ($64.4 million) in the first three months of 2014, up f
Americana Group’s marketing campaigns for KFC Arabia has been recognised with an award at the 2014 Internationalist Awards for Innovation in Media and two other wins at the regional 2014 Dubai Lynx Award.
Kuwait Food (Americana) is not aware of any potential stake sale by its majority shareholder, its chairman said on Sunday.
Sources told Reuters recently that Kuwait's billionaire Al-Kharafi family was looki