Hogan Lovells acts on tasty deal in the Gulf
4 May 2016
DUBAI, 4 May 2016 – Hogan Lovells has advised on the sale of Multibrands, one of the largest food and beverage distributors in the Middle East.
Multibrands Trading Company has been acquired by Gulf Capital, a major alternative investment firm. Hogan Lovells' Middle East team represented the sellers, Kuwait-based Sadita Holding Company, working with NBK Capital as financial advisers to Sadita.
With an annual turnover of US$100 million, Multibrands is one of the leading food and beverage distributors in Saudi Arabia. It distributes more than 50 brands across five main product categories, through retail chains, hotels, cafes, bakeries and restaurants.
Hogan Lovells' team was led by Dubai-based corporate partner Imtiaz Shah, with support from Blake Harley (Senior Associate, Dubai) and Irfan Butt (Counsel, Jeddah).
Commenting on the deal, Imtiaz Shah said: "This is a major transaction in one of the fastest growing sectors in the region. We expect to see more deal activity in the GCC food and beverage market during the coming months, as investors seek to diversify their portfolios away from oil and capitalise on areas of growth."