{"id":87151,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/gulf-capital-offloads-stake-in-amcan\/"},"modified":"2024-01-10T00:00:00","modified_gmt":"2024-01-10T00:00:00","slug":"gulf-capital-offloads-stake-in-amcan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/gulf-capital-offloads-stake-in-amcan\/","title":{"rendered":"Gulf Capital offloads stake in AmCan"},"content":{"rendered":"

Gulf Capital exits stage left from AmCan:<\/strong> Abu Dhabi-based private equity giant GulfCapital sold off its controlling stake in sports nutrition and healthy foods distribution company AmCan<\/a> to an unnamed MENA-based FMCG distributor, according to a press release (pdf)<\/a>. The transaction marked a \u201chighly profitable\u201d exit from the alternative asset manager\u2019s third buyout fund, GC Equity Partners III, the press release said, without disclosing the exact value of the transaction.<\/p>\n

Background: <\/strong>Gulf Capital closed its USD 750 mn (AED 2.76 bn) GC Equity Partners III Fund in 2014<\/a>. The fund was used to invest in AmCan in 2016.<\/p>\n

This is not Gulf Capital\u2019s first exit from a food distribution company: <\/strong>Back in 2022, Gulf Capital sold off 100% of Chef Middle East<\/a> to Nasdaq-listed specialty food distributor the Chefs\u2019 Warehouse<\/a>, according to a press release<\/a>. <\/p>\n

Throughout the seven years of Gulf Capital\u2019s ownership, AmCan saw a 50% increase in both revenues and <\/strong>gross margin<\/strong>, achieved through geographic expansion, optimization of distribution channels, and the introduction of new brands and products. <\/p>\n

What they said:<\/strong> \u201cThis control growth buyout with a deep focus on operational improvement and earnings growth, followed by a highly successful sale to a regional strategic buyer, is a great illustration of Gulf Capital\u2019s unique investment strategy in our high growth region,\u201d Gulf Capital CEO Karim El Solh said. <\/p>\n

Advisors:<\/strong> Global Gate Capital, Eversheds Sutherland, and PwC provided counsel to Gulf Capital for the transaction, while Nucleus Consulting and Ashurst advised the buyer.<\/p>\n

Expect further exits from Gulf Capital in the near future:<\/strong> Gulf Capital is looking to exit from AmCan\u2019s sister company, sports e-commerce platform Sporter.com<\/a>, AmCan\u2019s sister company, within the next two to three years after concluding its work on the company\u2019s growth and runway plans, El Solh told Enterprise. The PE firm is also planning a few more exits in 2024, El Solh added. Gulf Capital acquired a controlling stake in Sporter.com back in 2016<\/a> alongside AmCan.<\/p>\n

About Gulf Capital:<\/strong> The asset management firm focuses primarily on late-stage control buy-outs, growth capital, private debt and real estate projects in the Middle East region. The company currently holds some USD 2.5 bn in assets under management.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gulf Capital exits stage left from AmCan: Abu Dhabi-based private equity giant GulfCapital sold off its controlling stake in sports nutrition and healthy foods distribution company AmCan to an unnamed MENA-based FMCG distributor, according to a press release (pdf). The transaction marked a \u201chighly profitable\u201d exit from the alternative asset manager\u2019s third buyout fund, GC […]<\/p>\n","protected":false},"author":1,"featured_media":87152,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[101,102,7,100,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-amcan","tag-divestment-watch","tag-enterpriseam-uae","tag-gulf-capital","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"921663fd-eb36-45eb-9f4d-c1ad80707a4b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/541.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gulf Capital offloads its full stake AmCan","related_issue":[87143],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6daad22e-4b9e-4b7c-ae53-cfccfcb03047.mp3"},"yoast_head":"\nGulf Capital offloads stake in AmCan - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/gulf-capital-offloads-stake-in-amcan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gulf Capital offloads stake in AmCan\" \/>\n<meta property=\"og:description\" content=\"Gulf Capital exits stage left from AmCan: Abu Dhabi-based private equity giant GulfCapital sold off its controlling stake in sports nutrition and healthy foods distribution company AmCan to an unnamed MENA-based FMCG distributor, according to a press release (pdf). 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