Saudi Alamar considers IPO: report

18/10/2021 Argaam

Logo of Alamar Foods Co.

Saudi Arabia's Alamar Foods, the regional franchise operator for Domino's Pizza, is mulling an initial public offering (IPO), Reuters reported, citing unnamed sources with knowledge of the matter.

 

The potential IPO will allow The Carlyle Group, which owns 42% of Alamar, to sell some of its stake.

 

Alamar has hired HSBC to arrange the share sale, which is still in an early stage as no decision has been yet taken, the sources added.

 

Domino's Pizza owns 455 restaurants in the MENA region and Pakistan and has a franchise of Dunkin' Donuts in north Africa.

 

The Carlyle Group acquired 42% of Alamar in 2011 from the Al Jammaz family of Saudi Arabia.

 

The Carlyle Group plans to sell 30% of its stake in the company, while Al Jammaz family will retain the majority stake.

 

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