Family Business Roundup: Americana Group, Yildiz Holding, and Hero Motocorp
Family behind Kuwaiti food and beverage company consider sale
The family behind Kuwaiti food and beverage company Americana Group is looking to sell the group.
According to a company statement, the al-Kharafi family plans to sell their 66.8% stake in the Egypt-based company, which is estimated to be worth $4.3 billion, but added that no commitments had been made.
Americana Group is the Middle East and North African operator for some of the world's most recognised fast food chains, including KFC, Pizza Hut, TGI Friday's, Costa Coffee, and Krispy Kreme. The company said that Rothschild investment bank had been hired to oversee the proposed sale.
In 2013, Americana Group achieved record sales of $3.1 billion, up 7% on the previous year, and net profit's of $179 million.
Turkey's Yildiz Holding buys United Biscuits in £2 billion deal
Family-owned Yildiz Holding, the twelfth largest confectionary company in the world, has purchased Britain's United Biscuits for a reported £2 billion.
United Biscuits brands include McVitie's, Jacob's Cream Crackers, Mini Cheddars and Carr's. Their European brands include Delacre and Sultana.
Murat Ülker, chairman of the Y?ld?z Holding board of directors, said: “The addition of United Biscuits' market-leading portfolio of brands will further strengthen Yildiz Holding's position as a leading global consumer goods group.”
In 2013, Yildiz Holding posted revenues of €5.6 billion. United Biscuits, on the other hand, had revenues of €1.31 billion.
Hero MotoCorp eyes European market, announces new hybrid-scooter
Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, will enter a handful of European markets by the end of next year and will do so with the launch of a new hybrid scooter.
Hero MotoCorp chief executive Pawan Munjal said the new hybrid scooter will launch in Italy, Spain and France by the end of 2015, followed shortly after by the UK.
"This is in line with our vision of making Hero a truly global brand in its range of quality products, scale of operations and geographical footprint," second-gen Munjal said in a statement.
Hero MotoCorp's net sales went up by 14.2% to Rs 6,999 crore (€852 million) in 2014's first quarter. The company is the largest two-wheeler manufacturer in the world.