Deloitte Corporate Finance has announced it acted as the exclusive financial adviser to Al-Nabil Food Industries on the sale of a significant minority equity stake to Carlyle Mena Partners.

The transaction marks the first major global private equity investment into Jordan, a statement from the company said.

Al Nabil Foods, founded in 1945 by the Rassam family, is a leading name in the frozen food industry based in Jordan. The company distributes its own prominent brand of frozen food and cold cuts in Jordan and across the Middle East and Africa. It also provides premium quality meat to international quick service restaurants across the region.

Nabil Foods’ partnership with Carlyle Mena, a $500 million growth capital and buyout fund focused on the Middle East, North Africa and Turkey, will assist in propelling its continued growth and transforming the family-owned business into a corporation.     

The process received significant interest from global and regional private equity firms, family groups and trade buyers. Deloitte managed the sales process and led negotiations from initiation to closing, the statement said.

Niels Stidsen, director of Deloitte Corporate Finance advisory, said: “This process is a clear testament to the investment appetite of regional and international investors for well managed companies in the Middle East, such as Nabil Foods. The transaction marks a key milestone for Jordan and we expect to see a significant amount of international capital flowing into the country over the next few years.”

“Deloitte was selected to assist us in finding a strong partner who would support us in growing our business further and therefore we are very pleased to welcome Carlyle Mena on-board as that partner,” Rassam said. “Over the years, thanks to the dedication and hard work of our management and employees, we have grown into one of the region’s most recognised and trusted names in the food industry.”

“By joining forces with Carlyle Mena, we aim to further expand Nabil Foods’ presence in the Middle East and Africa in a focused and strategic manner.”

K&L Gates acted as legal advisers to Nabil Foods. The Dubai-based team was led by Andrew Johnston, partner and private equity specialist. “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.” – TradeArabia News Service