Carlyle seals rare MENA buyout

The firm has acquired a 42% stake in Domino’s and Wendy’s Middle East and North African region franchise operator Alamar Foods from the Al Jammaz family.

The Carlyle Group has purchased a 42 percent stake in Alamar Foods, which operates Domino’s Pizza and Wendy’s Restaurants in the Middle East and North Africa region. Terms of the deal, which closed on 14 December, were not disclosed.

Carlyle could not be reached for comment at press time. 

The firm made the investment through its MENA Partners fund, a 2009 vehicle that raised $500 million for growth capital and buyouts in the region. Additional equity will also be provided through its MENA (GCC) Partners fund, which was established earlier this year. The firm’s other investment through MENA Partners include Saudi Arabian lighting fixture company The General Lighting Company and Medical Park, a Turkish healthcare group.

The firm bought its stake in Alamar from the Al Jammaz family of Saudi Arabia, which will maintain a majority stake in the company.

Alamar operates 176  Domino’s franchises across the Middle East and North Africa, as well as Premier, a food processor supplier for the quick service and casual dining industry. The company was awarded the master franchise in the region for burger chain Wendy’s earlier this year, operating nine restaurants in the United Arab Emirates through a sub-franchise agreement.

Carlyle maintains several interests in the food and franchise industry, including holdings in Dunkin’ Donuts and Baskin-Robbins franchisor Dunkin’ Brands, Babela Restaurant Management Company, China Fishery Group and DIO F&B Company.

Earlier this year, Roark Capital Group agreed to buy Arby's fast food chain from the Wendy’s/Arby’s Group. The firm will pay $130 million cash to Wendy’s/Arby’s, which will retain an 18.5 percent stock interest in the popular sandwich chain, according to a statement.