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KKR, TPG and CVC eye majority stake in $5bn Americana deal

1 Jul 2014

pizzaKKR & Co LP  and TPG Capital are among groups looking to buy a majority stake in food retailer Kuwait Food Co, also known as Americana, it is understood.

At least six firms are considering bidding for the rumoured $5bn stake in the company, which is held by the Kuwait-based billionaire al-Kharafi family.

Other potential bidders include Advent International Corp, according to a source cited by Bloomberg.

The al-Kharafi family owns 66.8 percent of Americana through its private investment company MAK (Mohammed Abdulmohsin al-Kharafi & Sons).

The Kharafis had hired investment bank Rothschild to explore a sale to potential buyers, including private equity groups and sovereign wealth funds in the region, Bloomberg’s added.

Americana Group’s main line of business is operating food and drinks outlets, and making food. Its network includes KFC, Pizza Hut, TFI Fridays and Krispy Kreme.

TPG Capital, CVC Partners and KRK declined to comment on the possible deal.

Last November TPG and KKR competed to buy a 60 per cent interest in Saudi Arabian fast food restaurant chain Kudu, but it is not listed among either firm’s portfolio partners.

In other food related investments, TPG provided a $750m loan to US yoghurt company Chobani in April this year.

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