Carlyle acquires minority stake in Jordanian firm Al-Nabil Food Industries

US private equity firm Carlyle Group has acquired a minority stake in Jordan-based Al-Nabil Food Industries for an undisclosed amount.

Al-Nabil Food, established in 1945, is a producer of more than 200 frozen and chilled food products including beef and chicken burgers, chicken strips and nuggets, cold cuts, ethnic foods, pre-cooked meals, and sweets.

The company sells its products to retail, catering and quick service restaurant customers in over 20 countries throughout the Middle East, Africa and Asia.

Carlyle stated that the acquisition has been funded through Carlyle MENA Partners, a $500m growth capital and buyout fund which is focused on the Middle East, North Africa and Turkey.

The acquisition is part of Carlyle MENA’s strategy to invest in fast-growing consumer-centric industries in partnership with family groups.

Carlyle MENA managing director and co-head Firas Nasir said that Al-Nabil Food is a household name in Jordan and its wide range 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," Nasir added.

Al-Nabil Food Industries founder and CEO Nabil Rassam said that the partnership will enable the company to provide high-quality Nabil products to a broader range of customers.

"By joining forces with Carlyle MENA, we hope to further expand Nabil’s presence in the Middle East and Africa in a focused and strategic manner," Rassam added.

The Rassam family, which founded Al-Nabil Food, will continue to hold a majority stake.

Al-Nabil Food will retain its existing management and workforce, while benefiting from Carlyle MENA’s expertise in transforming family-owned businesses into corporations.

Carlyle MENA was established in 2007 to primarily invest in healthy, growing companies – it targets investments in the Gulf Cooperation Council, the Levant, North Africa and Turkey.

In December 2011, Carlyle MENA acquired a 42% stake in Saudi Arabia’s Alamar Foods, the franchise operator of Domino’s pizza and Wendy’s hamburgers in the Middle East.