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Carlyle makes first deal in Jordan by backing food group Nabil

13 May 2013

jordan_lrgBuyout major Carlyle has acquired a significant minority stake in Al-Nabil Food Industries in the first deal in Jordan from its $500m MENA Partners fund.

The founding Rassam family will retain a majority stake in the frozen and chilled foods producer.

The investment is part of Carlyle’s strategy of gaining exposure to fast growing consumer focused sectors in partnership with family groups.

Quick service restaurant food consumption is set to increase at an 11.5 per cent rate beweern 2010 and 2020, while the Gulf States’ food imports are expected to climb eight per cent per annum during the period.

Co-head of Carlyle MENA Firas Nasir said, “Nabil is a household name in Jordan.  Its comprehensive offering of high-quality products represents an excellent platform for regional growth.

“This first investment in Jordan is in line with our commitment to the MENA region, its industries and economy.

“We remain dedicated to our strategy of becoming value-adding partners in family-owned businesses.”

Last week Washington-based Carlyle reported its first quarter results, which showed a decline in fund management and performance fees in the private equity segment.

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