Gulf Capital sells food distribution business

Arabian Post Staff

Alternative asset manager Gulf Capital announced it has successfully completed the sale of 100% of Chef Middle East, the GCC’s premier foodservice distribution business, to The Chefs’ Warehouse, a Nasdaq-listed speciality food distributor operating across North America.

The US$ 100 million successful sale is one of the few strategic sales involving a Nasdaq-listed company in the GCC region in recent years.

During Gulf Capital’s ownership, Chef ME grew its revenues by more than 150% and operating income by 91%. To achieve these strong results, Chef ME expanded regionally and increased its product range by adding 2,000 SKUs and 2,500 customers all the while maintaining a level of quality, service and expertise that is unique and valuable to its suppliers and customer.

This remarkable growth is a strong testament to the operational improvement capabilities at
Gulf Capital and its deep bench of operating partners and industry advisors, the company said.

Also published on Medium.

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