A consortium of Gulf Arab investors has agreed to buy a majority stake in Middle Eastern food firm Kuwait Food Company, which operates regional franchises of KFC, Krispy Kreme and other well-known Western brands.
The investor group Adeptio said in a statement posted yesterday on the Kuwait stock exchange that it has agreed to buy a stake in the company currently owned by the Al-Khair investment company.
Al-Khair says Adeptio is led by Mohamed Alabbar, who is also chairman of Emaar Properties, developer of Dubai's record-breaking Burj Khalifa skyscraper. Financial details were not disclosed.
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