Bloomberg News

Carlyle Buys Minority Equity Stake in Al-Nabil Food of Jordan

May 13, 2013

Carlyle Group LP (CG:US) bought a minority stake in Jordan’s Al-Nabil Food Industries Co. as the world’s second-largest manager of alternative assets expands.

Carlyle will hold a “significant” stake in Al-Nabil, which produces frozen and chilled food products, while the Rassam family that founded the company will continue to have a majority holding, Carlyle said in an e-mailed statement today, without disclosing financial details.

“This first investment in Jordan is in line with our commitment to the MENA region, its industries and economy,” Firas Nasir, co-head of the company’s MENA fund, said in the statement. “We remain dedicated to our strategy of becoming value-adding partners in family-owned businesses.”

Funding for the deal came from Carlyle MENA Partners, a $500 million growth capital and buyout fund focused on Middle East, North Africa and Turkey. The deal closed today.

Carlyle, based in Washington, D.C., bought a 42 percent stake in restaurant operator Alamar Foods from Saudi Arabia’s Al Jammaz family in December 2011. The company bought 48 percent of the Istanbul-based education group Bahcesehir Kolejleri for an undisclosed price, it said in January 2012. It also acquired a 40 percent stake in Medical Park, an Istanbul-based hospital chain, in 2009 and 50 percent of Turkish shipbuilder TVK Gemi Yapim Sanayii AS in 2008.

To contact the reporter on this story: Stefania Bianchi in Dubai at sbianchi10@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • CG
    (Carlyle Group LP/The)
    • $33.21 USD
    • 0.36
    • 1.08%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus