Bahrain-based Investcorp on Tuesday said it had acquired a significant minority stake in a Turkish producer of fresh cut and packaged processed red meat.
According to a report by Reuters, Namet Gida Sanayi ve Ticareti AS is Investcorp's latest acquisition in the Middle East. The stake purchase in Namet comes a few months after the private equity firm bought a 25% stake in Saudi Arabia's sports and fitness business Leejam Sports Co.
Investcorp did not disclose the value of the deal in an e-mailed statement to Reuters.
Namet sells its shariah-compliant products to retailers as well as hotels, restaurants and catering companies. It was acquired in 2005 by members of the Kayar family, a Turkish household involved in livestock trading since 1929. The family will retain a majority interest in Namet, the report said.
Investcorp is reportedly one of the several investors who have expressed a preliminary interest in buying a stake in Italian fashion house Versace. It had $11.5 billion in assets under management at the end of 2012, Reuters said.
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