July 1 Private-equity firms KKR & Co LP
and TPG Capital are among the groups looking to buy a
majority stake in food retailer Kuwait Food Co SAK,
better known as Americana, Bloomberg reported, citing people
familiar with the matter.
The report said at least six groups were considering bidding
for the stake held by the Kuwait-based billionaire al-Kharafi
A deal could value the company at about $5 billion,
The other potential bidders include CVC Capital Partners Ltd
and Advent International Corp, Bloomberg said.
The al-Kharafi family owns 66.8 percent of Americana through
its private investment company MAK (Mohammed Abdulmohsin
al-Kharafi & Sons).
The Kharafis had hired investment bank Rothschild to explore
a sale to potential buyers, including private equity groups and
sovereign wealth funds in the region, Reuters reported in April.
Americana operates franchise restaurants, including Yum
Brands' KFC and Pizza Hut and Darden Restaurants'
Red Lobster and Olive Garden, in the Middle East and
The company also makes California Garden beans and Farm
Frites frozen vegetables.
TPG Capital, CVC Partners and Advent International declined
to comment to Reuters.
Americana, MAK and KKR were not immediately available for
(Reporting by Sruthi Ramakrishnan and Mridhula Raghavan in
Bangalore; Editing by Joyjeet Das)