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Eversheds Sutherland advises Gulf Capital on the sale of Chef Middle East to NASDAQ-listed The Chefs Warehouse

  • Middle East
  • UAE
  • Qatar

    11-11-2022

    Eversheds Sutherland has advised Gulf Capital, one of the largest and most active alternative asset management firms in the GCC and Southeast Asia, on the sale of Chef Middle East to The Chefs Warehouse Inc., a Nasdaq-listed speciality food distributor operating across North America.

    The US$100m sale is one of the few strategic disposals involving a Nasdaq-listed company in the GCC region in recent years.

    Chef Middle East operates in the United Arab Emirates, Qatar, and Oman, and provides specialty food products to higher-end restaurants, hotels, and catering establishments in the region. During Gulf Capital’s ownership, Chef Middle East grew its revenues by more than 150% and operating income by 91%.

    The Eversheds Sutherland team was led by partner, Zeid Hanania, assisted by principal associates, Noor Al Heialy and Steve Jennings, with further support from senior associate, Rhydian Wyn, associate, Ryan Todd and trainee, Hala Haddad.  Partner, Clint Dempsey and associate, Pronnoy Sengupta, assisted on finance aspects, while tax assistance was provided by senior associate, Jannine Nicholas.

    deNovo Partners acted as financial adviser to Gulf Capital on the transaction.

    Zeid Hanania, Eversheds Sutherland, commented: “We are delighted to have advised Gulf Capital on this significant transaction. This disposal is a testament to the successful implementation of Gulf Capital’s strategy of investing in and expanding growth companies in our region. We are honoured to play a role as a trusted legal advisor to Gulf Capital and look forward to continuing to support them in the future.” 

    Hazem Abu Khalaf, Managing Director at Gulf Capital, commented: “This was an important exit for Gulf Capital and marks a continuation of our track record of selling our portfolio companies to international strategic buyers. We are very pleased with the outstanding support and advice provided by Eversheds Sutherland on this transaction.”

    Zeid Hanania, Partner
    Clint Dempsey, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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