Express Group, founded in 1990, is based in Dubai and exports to 25 countries serving clients across the food and beverage, industrial and consumer goods industries. As DubaiBeat reported on September 2012 Alkhabeer had launched a $400 million fund and invests globally.
Alkhabeer Capital is listed in the Middle East Investors Directory with the code BFD18.
More details follows
Express Publishing and Investment Limited ("Express Group"), a UAE-based packaging group, today announced that it has agreed to sell a majority stake to Alkhabeer Capital for an undisclosed amount. Alkhabeer Capital is an investment and asset management firm based in Saudi Arabia. SHUAA Capital acted as financial and sell side advisor to Express Group.
Commenting on the transaction, HH Sheikh Maktoum Hasher bin Maktoum, Executive Chairman of SHUAA Capital , said: "The Express Group transaction is an excellent example of growing interest in M&A activity into the UAE as the economic recovery attracts regional and international businesses looking to tap the country's next growth cycle. We believe that this deal and deals like this will add to the UAE's and the region's ability to attract greater inflows of international capital and further enhance economic growth and prosperity."
Ammar Shata, Alkhabeer's Executive Director and Chief Executive Officer said, "Our investment in Express Group demonstrates once again the expertise of our private equity business in terms of creating mutually attractive partnerships with ambitious business owners that have a solid track record in the Gulf. I look forward to working with Express Group's shareholders and management team in the coming years and I am confident that our partnership will deliver significant value for all parties involved as we continue to grow the business".
"Express Group has seen solid growth since it was founded," commented Abdulla Zubair Mylanchikkal and Abdul Qadir Mohamed Theruvath, co-founders of the company. "Today we have a presence in over 25 markets and are well positioned to cater to increasing demand for our products. The sale of a majority stake will allow us to drive the development of the business by pursuing our strategic aim of consolidating our competitive position at home and accelerating our growth plans internationally. We would like to thank SHUAA Capital , our financial and sell side advisor, for their professional advice and transaction support."
Significant increases in demand for packaging products and positive indicators in the Middle East such as strong economic growth and increasing populations have been the main drivers of Express Group's expansion. An expected continuation of economic growth fuelled by events such as the UAE's recent Expo 2020 win and major economic development projects such as Mohammed Bin Rashid City are likely to ensure that demand within the packaging sector remains strong. Being headquartered in the UAE, which has emerged as a commercial and travel hub in the wider region, will also continue to allow Express Group to serve clients overseas and facilitate expansion into new markets.
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