Foodservice Equipment Reports

U.S. Firms Bid For Ownership Of Two Middle East Chains

Three U.S. investment firms are bidding for a Kuwaiti quick-serve holding company worth around $4 billion.

The firms—TPG Capital, CVC Capital Partners and KKR & Co.—are seeking to acquire Kuwait Food Co., which operates about 1,500 KFC and Pizza Hut restaurants in the Middle East and North Africa, according to reports by Bloomberg.

TPG also is working with Dubai-based private equity firm Abraaj Group Ltd. to buy a majority stake in Saudi Arabian fast-food chain Kudu, which operates about 200 locations selling chicken sandwiches, burgers and breakfast foods. The two firms are reportedly closing in on a deal that will value Kudu at up to $500 million. While Kudu would be TPG’s first venture into the Middle East, its experience investing in restaurant chains, such as Burger King, complements Abraaj’s roots in the region.

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