NBK Capital advisor on the sale of Multibrands

KUWAIT: May 07, 2016

NBK Capital acted as the financial advisor on the sale of 100% of Multibrands Trading Company. Multibrands was established in Saudi Arabia in 2006 and is owned by Kuwaiti entrepreneur Mr. Fozan Saud Al-Fozan who has been active in the food and beverage (F&B) sector since 1982. Mutibrands is considered one of the most successful F&B distributors in Saudi Arabia with over 50 premium brands and an annual turnover in excess of USD 100 million. Multibrands was acquired by Gulf Capital, a leading alternative asset management firm based in Abu Dhabi.

Mr. Faisal Al-Hamad, Chief Executive Officer of NBK Capital, said: “this deal represents an important achievement that meets our client’s strategy. We are thrilled to have contributed to the successful closing of this deal”. Mr. Al-Hamad also added that “this transaction is in line with the strategy of Mr. Fozan Saud Al Fozan and his group of companies which has been a leader in the F&B sector in MENA for 36 years, and is considered a successful model for other companies in the sector”.

Mr. Fozan Saud Al-Fozan said: “We are very pleased with the outcome of the transaction which has achieved the required returns and which represents an opportunity for us to tap into different sectors and international markets”. He also added “we would like to thank NBK Capital for their exceptional role in completing this transaction, and for providing ongoing support to our strategic initiatives”.