Kuwait, June 10, 2015 — Mezzan Holding KSCC, one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf, today held a press briefing session ahead of its listing on the Kuwait Stock Exchange (KSE) tomorrow, June 11, 2015.
The session was headed by Mezzan Holding Vice Chairman Mohammad Jassim Mohammad Al Wazzan, CEO Garrett Walsh, CFO Munaf Yusuf, as well as NBK Capital Chairperson and NBK Deputy Group CEO Shaikha Al Bahar and NBK Capital CEO Faisal Al-Hamad.
In his presentation covering the company’s growth story and outlook, Mezzan Holding Vice Chairman – Executive, Mohammad Jassim Mohammad Al Wazzan, said: “Mezzan Holding is one step closer to turning the company from a family institution into a publicly-traded institution that champions and reflects the strength, legacy, and robustness of Kuwait’s private sector. The move from being a family-held institution to a public trade company will also provide investors from Kuwait and the Gulf a unique investment opportunity in one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors.”
Mezzan Holding announced last month KD52.9 million in revenue, up 10.6% from Q1 2014, and KD5.5 million in net profit, up 24.8% from Q1 2014. In 2014, the company reported KD182.5 million in revenue, up 28.2% from 2013, and net profit of KD16.1 million, up 22.9% from 2013.
In preparation for a listing on KSE, the company launched a private placement of a secondary offering of 30% of the company. The offering, successfully closed on May 12, was oversubscribed exceeding two times the offering.
Mezzan Holding appointed Watani Investment Company KSCC (NBK Capital) as the lead of the offering and the listing advisor.
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 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, Mesporin, Gaviscon, and hundreds of other products in Kuwait as well as Red Bull in the UAE.
Mezzan Holding Highlights:
- Distributes over 25,000 Stock Keeping Units (SKU), making it one of the largest operators in terms of SKUs, unit sales, market share and in terms of share of revenues of total consumer spending in consumer categories served by the company
- Operates in seven countries through 29 subsidiaries with 7,500 employees
- Active in various segments of the consumer staple industry supported by long-standing relationships with Johnson & Johnson, Olayan Kimberly-Clark, Reckitt Benckiser, General Mills, Arla Foods, Sara Lee and many other leading brands and manufacturers
- 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, 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, UAE, Qatar, Saudi Arabia, Iraq, Jordan, and Afghanistan.
(ENDS)
Reporters may contact:
Fawaz Al Sirri | Bensirri Public Relations | fawaz@bensirri.com | 00965 66622448
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