Investor Alert — Mezzan Holding’s Q3 2021 webcast was held on November 15, 2021, at 11:00 am Kuwait time. To view a live recording of the call, please click this link.


Mezzan Holding K.S.C.P. was founded in the 1940s and reincorporated in 1999 under the current holding structure with a paid-up capital of KWD 31.13 million. Today, Mezzan Holding’s operations span across the Gulf and other select markets through 30 vertically integrated operating companies. Our legacy brands, including Al Wazzan, KITCO, and Khazan, coupled with our agency brands, have earned superior brand recognition, consumer loyalty, deep market penetration, and vast market reach.
Meals Catered Daily
Manufacturing Facilities


Witnessed improvement in our operational performance driven by both the heritage portfolio, inorganic growth as well as opportunistic COVID-19 related businesses.
Healthy topline growth in all core consumer-driven business units. Strong performance in the food manufacturing and distribution, as well as FMCG and healthcare segments.
The growth in topline witnessed throughout the year and continued in Q4 2020 was coupled with operating leverage and economies of scale led to expansion of various profitability margins including gross profit, EBITDA, operating profit and net margins.
Improved working capital cycle which enabled Mezzan to reduce its borrowing and financing costs. Mezzan Net Debt in 2020 was lower by 28% compared to the Net Debt of 2019. Mezzan Net Debt and Net Debt to EBITDA are back to pre-acquisitions levels.
Total assets
Total revenue
Net profit
KWD Millions
Growth (CAGR):
Current Assets 5.1%
Non-Current Assets 6.6%
Non-Current Assets
Current Assets
KWD Millions
Growth (CAGR): 3.9%
KWD Millions
Growth (CAGR): -7.4%

Understanding Mezzan

Mezzan Holding is an integrated business with commercial operations in manufacturing, distribution, retail, wholesale, and contract services. The company’s activities, which run through 30 subsidiaries, are grouped into two main business lines: Food Business Line and Healthcare & Consumer Business Line. Each business line directly contributes to Mezzan’s revenue and net profit. Below is an infographic of our business lines and divisions and their contribution to Mezzan Holding’s revenue based on Full Year 2020 audited earnings.

Food Business Line
Generating 67.20% of the company’s revenue, Mezzan’s Food Business Line operates through its Food Manufacturing and Distribution, Catering, and Services divisions.
Healthcare & Consumer Business Line
Generating 32.80% of the company’s revenue, Mezzan’s Healthcare & Consumer Business Line comprises FMCG, Pharmaceuticals, and Industrials.
Retail Companies in Kuwait

Mezzan At A Glance

Food Business Line
Manufacturing & distribution
Revenue (KD Million)
Growth (CAGR): 2.4%
Revenue (KD Million)
Growth (CAGR): 2.2%
Revenue (KD Million)
Growth (CAGR): 3.6%
Revenue (KD Million)
Growth (CAGR): 1.1%
Healthcare & Consumer Business Line
Fmcg & healthcare
Revenue (KD Million)
Growth (CAGR): 7.6%
Revenue (KD Million)
Growth (CAGR): 8.9%
Revenue (KD Million)
Growth (CAGR): -5.9%