Mezzan Holding announces start of private placement of a secondary offering of up to 88.95 million shares

Kuwait, April 6, 2015 — Mezzan Holding KSCC, one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf, announces the start of the private placement of a secondary offering of up to 88.95 million shares, or 30% of the company, in preparation for a listing on the Kuwait Stock Exchange (KSE) expected in the second quarter of 2015.

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 appointed Watani Investment Company KSCC (NBK Capital) as a lead manager to manage the subscription and to allocate the shares after closing the subscription in consultation with the selling shareholders and the company.

The offering’s objective is to expand the company’s shareholder base. Upon successful completion of the offering, Mezzan will proceed with the remaining regulatory procedures to listing on the KSE expected in the second quarter of 2015, as part of a corporate strategy to evolve Mezzan Holding from a family-held institution to a public trade company.

Mezzan Holding represents a unique investment opportunity in one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors.

Mezzan Holding operates 29 subsidiaries and is operationally structured into two primary business lines: the Food Business Line and the Non-Food Business Line. With both business lines combined, the company is manufactures and distributes over 358 leading consumer brands, including consumer favourites such as Kitco chips and snacks, Country Rice, Khazan meat products, Al Wazzan Rice and, Al Wazzan Canned Tuna, Aqua Gulf, Pillsbury, Green Giant, Sara Lee, Betty Crocker, Tabasco. The company is also the exclusive distributor of Starbucks chilled products, Johnson & Johnson, Dettol cleaning products, Kleenex, Listerine, Pif Paf, Huggies, Clearasil, Neutrogena, Zyrtec, Tylenol, Olfen, Misporin, Gaviscon, and hundreds of other products in Kuwait as well as Red Bull in the UAE.

Mezzan Holding Highlights:

  • Operates in seven countries through 29 subsidiaries, and 7,500 employees
  • In-house products enjoy high brand recognition and positioning including Kitco chips and snacks, Khazan meat products, Al Wazzan and Country rice, Al Wazzan Canned Tuna, Aqua Gulf and Dana water, Dania canned foods and Softy
  • Active in various segments of the consumer staple industry supported by long-standing relationships with Johnson and Johnson, Olayan-Kimberly Clark, Reckitt Benckiser, General Mills, Arla Foods, Sara Lee, and many other leading brands and manufacturers
  • Distributes over 25,000 Stock Keeping Units (SKUs)
  • Serves over of 100,000 meals a day in Kuwait, Qatar, and the UAE through its catering business
  • Has a total of 130,000 square meters in food, beverage and FMCG manufacturing facilities in Kuwait, Qatar, the UAE, and Afghanistan
  • Leverages long-standing relationships with private and cooperative supermarkets
  • Vertically integrated into complementary business operations, including packaging, catering, contract services and logistics
  • Food Services customers include multinational fast food chains, airline catering services, and large food services companies.

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

ENDS

Reporters may contact:

Fawaz Al Sirri | Bensirri Public Relations | fawaz@bensirri.com | 00965 66622448

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