Mezzan Holding acquires Invest AD
A diversified Kuwaiti conglomerate, Mezzan Holding Co., had announced the acquisition of the distribution firm of Red Bull Energy Drink in the United Arab Emirates. This is one clear sign of the voracious appetite for consumer related investments within the Gulf region.
Mezzan would be acquiring Unitra Mets Group from Invest AD, which is based out of Abu Dhabi. This was confirmed by both Mezzan and Invest AD through a joint statement last Monday. Back in 2008, Invest AD had already purchased a majority stake in UMG from its original shareholders. The statement did not provide details of the transaction.
The appetite for investments in the growing consumer sector in the Gulf region. The sector has been on an upsurge as there is an increased number of mergers and acquisitions activity in the past few years. In 2011, Coca-Cola had purchased shareholdings in Saudi Arabian beverage firm Aujan Industries for a price tag of USD980 million seeking to grow in the market for non-alcoholic beverages in the Middle East.
Mezzan Holding engaged the services of NBK Capital, the investment arm of the National Bank of Kuwait for advisory services. Other consultants were Gibson, Dunn & Crutcher LLP. Invest AD was advised by deNovo Corporate Advisors and Clifford Chance LLP of Dubai.