Mezzan Holding, a top manufacturer and distributor of food, beverage, FMCG, and pharmaceutical products in the Gulf, today (June 11) debuted on the Kuwait Stock Exchange, trading with the ticker "Mezzan".

Mezzan Holding vice chairman Mohammad Jassim Mohammad Al Wazzan said: “This is a testament to all the hard work and dedication of owners, managers, and staff over the last 70 years since the late Jassim Al Wazzan started his first small shop. Today we are a 7,500 employee company and our task now is to continue this legacy by delivering consistent growth to our shareholders and meeting our commitments to our customers, our suppliers, our staff and our shareholders.”
 
Mezzan Holding announced last month Q1 2015 results with KD52.9 million ($174.8 million) in revenue, up 10.6 per cent from Q1 2014, and KD5.5 million in net profit, up 24.8 per cent from Q1 2014. In 2014, the company reported KD182.5 million in revenue, up 28.2 per cent from 2013, and net profit of KD16.1 million, up 22.9 per cent from 2013.
   
 “Today, Mezzan Holding brings investors from Kuwait and the Gulf a unique investment opportunity in one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors,” Al Wazzan added.

“The move to list comes after a series of initiatives taken by the company to evolve Mezzan Holding into a public company in a structured, phased, and sustainable approach, turning it from a family institution into a public institution that champions and reflects the strength, legacy, and robustness of Kuwait’s private sector.”

The company distributes over 25,000 Stock Keeping Units (SKU), making it a market leader in terms of SKUs, unit sales, market share, and in terms of share of revenues of total consumer spending in consumer categories served by Mezzan Holding.

Mezzan Holding is headquartered in Kuwait and operates in Kuwait, UAE, Qatar, Saudi Arabia, Iraq, Jordan, and Afghanistan. – TradeArabia News Service