K&L Gates advises Nabil on Carlyle deal
Dubai, May 14, 2013
A Dubai-based team of lawyers from global law firm K&L Gates has advised Jordan’s Rassam family on the sale of a significant minority interest in Al Nabil Food Industries to alternative asset manager, The Carlyle Group.
Carlyle Mena Partners is a $500 million growth capital and buyout fund focused on the Middle East, North Africa and Turkey. This transaction is part of Carlyle Mena’s ongoing strategy to invest in fast-growing consumer-centric industries in partnership with family groups.
The Rassam family, which founded Nabil Foods in 1945, will continue to hold a majority stake in the company, which is the premier producer of a broad range of frozen and chilled food products. Through the company’s agreement with Carlyle Mena Partners, Nabil Foods will retain its existing management and workforce, while benefitting from Carlyle Mena’s experience in transforming family-owned businesses across the region.
Partner Andrew Johnston, whose practice is private equity focused, led the K&L Gates team that represented the Rassam family on the transaction. He was assisted by senior associates Anna Cosgrave and Lowri Llwyd.
Johnston said: “We are delighted to have been able to assist the Rassam family in entering into this strategic partnership with Carlyle. It is a transaction that will be transformational for Nabil Foods as it seeks to further expand its business across the region.”
“Our role in this transaction, together with other recent private equity deals on which we have acted, not only highlights the strength and depth of our Middle East corporate practice, but also our ability to advise our clients in relation to their most strategic and complex transactions in the region."
Deloitte was financial adviser to the Rassam family. The Carlyle Group was represented by Clifford Chance LLP. – TradeArabia News Service