05/04/2015 00:58 AST
Mezzan Holding KSCC, one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf, has announced last Wednesday that it has received the preliminary approval of Kuwait’s Capital Market Authority to list its shares on the Kuwait Stock Exchange (KSE) following the successful closing of the private placement of a secondary offering of up to 88.95 million shares, or 30% of its issued shares.
Mezzan Holding is the manufacturer and distributor of Khazan meat products, Kitco ?hips and snacks, Al Wazzan Rice, Aqua Gulf and Dana water, and other leading consumer goods. The company is also a distributor of products from over 358 brands, including Johnson and Johnson, Olayan-Kimberly Clark, Reckitt Benckiser, General Mills, and Arla Foods.
Mezzan Holding represents a unique investment opportunity in Kuwait and the Gulf as one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors.
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.
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, as part of a corporate strategy to evolve Mezzan Holding from a family-held institution to a public trade company. Mezzan has appointed Watani Investment Company KSCC (NBK Capital) to manage the private placement and listing on the Kuwait Stock Exchange.
For the year 2014, the company recorded KD182.5 million in revenues, up 28.2% from 2013, and net profit of KD16.1 million, up 22.9% from 2013. Mezzan holding generates 75% of its revenues from consumer-driven sectors.
Mezzan Holding 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 manufactures and distributes over 358 leading consumer brands, including consumer favorites 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 is headquartered in Kuwait and operates in Kuwait, Afghanistan, Iraq, Jordan, Qatar, Saudi Arabia, and UAE.
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