RIYADH, May 11, 2016 — King & Spalding advised Gulf Capital, one of the leading alternative investment firms in the Middle East, on a 100 percent acquisition of Multibrands Trading, a food and beverage distributor in Saudi Arabia with over $100 million in annual turnover. With over 50 brands across five main product categories, Multibrands enjoys a diverse portfolio of products that are distributed through a range of modern and conventional retail chains, hotels, cafes, bakeries and restaurants. The acquisition is the latest carried out by Gulf Capital in the food and beverage sector. King & Spalding also served as lead counsel in relation to the related food and beverage fund that was formed pursuant to the acquisition and advised on aspects of the acquisition financing.
The King & Spalding team on the matter was led by partner Nabil Issa and senior associate Osama Audi with support from counsel Mohammad Al Ammar and associate Yousef Farsakh. The fund set-up was led by partners Issa and James Stull with support from associate Sayf Shuqair. King & Spalding has one of the largest food and beverage practices in the region, and continues to grow its portfolio of clients within the sector.
“We are pleased to continue to be one of the ‘go-to’ firms in relation to the most significant food and beverage deals in the Middle East,” said Issa.
Added Audi: “We’re proud to work with firms such as Gulf Capital, which focus on this very important sector.”
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