GrowthGate, a Bahrain registered private equity firm, has reached an agreement to acquire 22% of International Foods, a food and catering services firm in the Middle East.
International Foods is headquartered in Jeddah, Saudi with operations in Saudi, Syria, Egypt and Lebanon. It is a privately held corporation with expected consolidated revenues in 2010, of $81 million and consolidated EBITDA of $10.32 million for the same period. The value of the acquisition was not disclosed.
Growthgate is listed in the Middle East Investors Directory with the code EM10.
Their full press release follows
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