Kuwait group buys stake in Arwa Gulf Food
Kuwait, February 6, 2013
Kuwait-based Khatif Holding Company said it has acquired a 50 per cent stake in Arwa Gulf Food Company, the main distributors of leading Italian coffee brand, “LaVazza” in Kuwait.
A leading venture capital firm, Khatif Holding procures niche business opportunities in the GCC and Mena region. The company boasts of more than 45 years of financial and operational experience with regional insights.
Commenting on the move, Fatma M. Al-Bader, the founder and chairman of Khatif Holding Company, said, "LaVazza coffee is the Italian taste sensation and an established international brand which is loved by Kuwaitis. This is an exciting opportunity for both companies to bring Europe’s number one coffee brand to sophisticated coffee lovers in Kuwait."
"By combining the strengths of the two companies and partnering with Arwa Gulf Food Company to distribute LaVazza in Kuwait we will provide unmatched quality products to our customers,” she noted.
The Kuwaiti company also revealed plans to enter Saudi Arabia and other GCC countries during the year.
“We have just concluded our three year strategic plans and are actively seeking further opportunities to expand into Saudi Arabia and other GCC markets,” revealed Al Bader.
She also spoke about the wide range of technical services provided by Khatif Consult, the consulting arm of Khatif Holding which includes feasibility studies, business planning, project valuations, risk management, corporate governance, compliance, and human resources development advisory.
"At Khatif we have proved our capability to add value to existing profitable businesses that seek a partner to take them to the next level. Our acquisition is mostly through capital increase and our funding goes into taking the acquired company to the next level of market share, operational efficiency and profitability," she stated.
She said these companies have greatly benefitted from Khatif's investment and expertise.
CEO Osama N. Mohamed discussed the new projects signed since the beginning of 2013 by Fajr Al Eman General Trading & Contracting Company, Khatif Holding's first aquisition.
He also spoke about the contracts awarded by KGOC and Ahmadia Contracting Co to Ashabakat Technical Networks for Computer, one of the subsidiaries of Khatif Holding to supply and implement Oracle project management solutions.
“During 2013 we are looking at replicating our proven success with a fresh wave of companies, and with the support of our strategic partners, we hope to expand our successful business relationship to achieve the best customer satisfaction and care in Kuwait,” he added.-TradeArabia News Service