Gulf Capital (GC), one of the largest private equity firms investing from the GCC to the rest of Asia, has completed the sale of 100% of AmCan, a distributor of many of the top global sports nutrition brands across the MENA region.
Described by GC as a “highly profitable and strategic sale”, the deal allows the company’s successful exit of food distribution firm, Chef Middle East (Chef ME), which was sold to The Chefs’ Warehouse, a Nasdaq-listed specialty food distributor operating across North America.
As a thematic investor, Gulf Capital invested in AmCan in 2016 from its third buyout fund, GC Equity Partners III, to gain exposure to the fast-growing wellness and sports and nutrition supplements market in the GCC. During Gulf Capital’s ownership, AmCan grew its revenues and gross margin by more than 50%.
Gulf Capital was advised by Global Gate Capital, Eversheds Sutherland and PwC on the sale. The buyer was advised by Nucleus Consulting and Ashurst.
