Carlyle Group buys 42pct of Saudi's Alamar Foods

Private equity firm Carlyle Group has acquired a 42 per cent stake in Saudi Arabia's Alamar Foods, the master franchise operator for Domino's Pizza and Wendy's restaurants in the Middle East and North Africa.

Carlyle bought the stake from the Al Jammaz Group for an undisclosed amount, according to a statement issued by Carlyle.

Last month, sources told Reuters that Carlyle was acquiring a 42 per cent stake in Al Jammaz's food company.

Apart from the Domino's Pizza and Wendy's franchises, Alamar also has a food processor called Premier, which supplies fast food outlets. Al Jammaz has operations in agriculture, food services and also provides pilgrimage services in Mecca and Medina through its travel arm.

It is the second acquisition which the buyout group has made in the Gulf, following its 30 per cent investment in Saudi Arabia's General Lighting Company in March 2010.

It is eyeing a 2013 initial public offering in Riyadh for that investment, sources have said.