Middle East food firm Americana to go up for sale
Kuwait's al-Kharafi family, the owners of Americana food brand, is reportedly seeking to sell the fo…Kuwait's al-Kharafi family, the owners of Americana food brand, is reportedly seeking to sell the food unit.
Currently, no formal process has commenced for the proposed sale; however, the owners are working with financial advisory firm Rothschild to approach potential buyers, reported Reuters citing sources familiar with the matter.
There is no information whether the business will be sold as a whole or in part, the sources added.
Americana is one of the leading companies engaged in operating food and beverage outlets and manufacturing food products in the Middle East and North Africa (MENA) region. It operates across 13 countries and has a workforce of 55,000.
The company manufactures California Garden beans and Farm Frites frozen vegetables, in addition to meat and poultry, canned food, dairy foods, frozen potatoes and vegetables, and salty snacks.
It also operates restaurants, including KFC and Pizza Hut as well as Red Lobster and Olive Garden outlets.
The Kharafi family has presence across various industries, including construction, financials and telecoms.
