Regions

Investcorp buys minority stake in Turkish food producer Namet for undisclosed sum

January 7
3:01 AM 2014

Bahrain-based Investcorp on Tuesday said it had acquired a significant minority stake in a Turkish producer of fresh cut and packaged processed red meat.

According to a report by Reuters, Namet Gida Sanayi ve Ticareti AS is Investcorp's latest acquisition in the Middle East. The stake purchase in Namet comes a few months after the private equity firm bought a 25% stake in Saudi Arabia's sports and fitness business Leejam Sports Co.

Investcorp did not disclose the value of the deal in an e-mailed statement to Reuters.

Namet sells its shariah-compliant products to retailers as well as hotels, restaurants and catering companies. It was acquired in 2005 by members of the Kayar family, a Turkish household involved in livestock trading since 1929. The family will retain a majority interest in Namet, the report said.

Investcorp is reportedly one of the several investors who have expressed a preliminary interest in buying a stake in Italian fashion house Versace. It had $11.5 billion in assets under management at the end of 2012, Reuters said. 

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics