Alamar Foods, Saudi Arabia’s regional operator for Domino’s Pizza, is looking into the launch of an IPO, sources close to the matter revealed. This move would enable the Carlyle Group to sell some of its stake in the company. As of late, the Carlyle Group possesses $276 billion in assets while owning a 42% share of Alamar Foods.
While the food franchise operator has hired HSBC to handle the share sale, discussions are still at an early stage and no final decision has been made regarding whether or not the IPO will be launched.
Alamar operated 455 Domino’s Pizza stores across the Middle East, North Africa, and Pakistan. The company also owns the branding rights to Dunkin’ Donuts in North Africa.
According to sources, Carlyle, which purchased its share in Alamar from the AlJammaz family in 2011, is looking to stage a partial exit from the company. The group is reportedly considering letting go of a 30% stake in the company.
Saudi Arabia’s food and beverage industry is growing at an exponential rate, with the Saudi Arabian General Authority for Investment estimating that it will gain 6% growth over the next five years.
