Arwa Gulf Food sells 50% stake
- Kuwait: Thursday, February 07 - 2013 at 07:08
Arwa Gulf Food Co, the main distributors of Italian coffee brand, LaVazza, has sold a 50% stake to venture capital firm Khatif Holding Co. The acquisition "is mostly through capital increase and our funding goes into taking the acquired company to the next level of market share, operational efficiency and profitability," said the founder and chairman of Khatif Holding, Fatma M Al-Bader. "This is an exciting opportunity for both companies to bring Europe's number one coffee brand to sophisticated coffee lovers in Kuwait," said Al-Bader.
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