twitter Facebook Linkedin acp contact us

Mezzan Holding acquires stake in Kuwait’s only pharma manufacturer

Industrial

Mezzan Holding, manufacturers and distributors of food, beverage, FMCG and healthcare products in the Gulf, has acquired a 67 per cent stake in Kuwait Saudi Pharmaceutical Industries Company KSCC (KSPICO), Kuwait’s only manufacturer of pharmaceutical products

The acquisition will grant Mezzan majority Board seats and effective control of KSPICO and will enable Mezzan to bolster its capabilities and offerings in the healthcare space, a vital and growing consumer segment.

The deal was worth US$69mn, Mezzan Holding said in a statement.

Mohammed Jassim Al Wazzan, Mezzan Holding executive vice chairman, said, “KSPICo is one of Kuwait’s untold success stories. The company has a great track record and a unique market position that complements Mezzan’s business. Upon completion, this acquisition will mark a turning point in our healthcare businesses, transforming it overnight from a distribution-based business into a manufacturing and distribution business with a wide array of product lines, customers, and regulatory certifications.”

“The company has a seasoned-management that we look forward to not only working with to grow the current business but also to expand it into new value-added production lines, contract manufacturing with renowned international producers and investment in research and development,” he added.

Garrett Walsh, Mezzan CEO, commented, “This acquisition marks a significant addition to Mezzan’s core consumer-driven business and expanding its access to the local and regional consumer spending. Mezzan will focus its efforts on further growing KSPICO’s market share locally and regionally, growing utilisation of manufacturing and improve product mix to help drive growth and profitability.”

Human factors need to be taken into account when addressing safety. (Image source: Adobe Stock)

H.E. Abdullah Ali Bin Zayed Al Falasi, director general of Dubai Government Human Resources Department. (Image source: DGHR)

Source: SafeStart

The RealWear Navigator Z1. (Image source: RealWear)

The Al Khobar 2 SWRO desalination plant located in Saudi Arabia. (Image source: ACCIONA)

The new uvex phynomic cut glove range is manufactured in Germany using 3D hand ‘formas’ to mimic the contours of the hand. (Image source: uvex)

The GS700 incorporates the capability to detect H2, in addition to its existing ability to detect natural gas. (Image source: Teledyne Gas and Flame Detection))

The campaign focuses on keeping construction sites clean. (Image source: Adobe Stock)

The new uvex phynomic cut glove range is manufactured in Germany using 3D hand ‘formas’ to mimic the contours of the hand. (Image source: uvex)

QatarEnergy LNG's CEO at the Safety Day. (Image source: QatarEnergy LNG)

H.E. Abdullah Ali Bin Zayed Al Falasi, director general of Dubai Government Human Resources Department. (Image source: DGHR)

The Tab-Ex 04 Pro DZ2 / D2. (Image source: Pepperl+Fuchs)

The Al Khobar 2 SWRO desalination plant located in Saudi Arabia. (Image source: ACCIONA)

Source: SafeStart

Both municipalities said they were committed to advancing HSE practices in the country.

The project will have an expected annual processing capacity of 900,000 tonnes of waste, making it one of the region’s largest. (Image source: EWEC)

There are a diverse range of factors to consider from suspension, soft textile materials, vented or non-vented models, to heat regulation accessories, size and aesthetics. (Image source: MSA Safety)

The workshop focused on safety in construction as well. (Image source: ICC)

The new partnership will enable HMi Elements to tap into Cobic-Ex’s global network. (Image source: HMi Elements)

Sarah Hutcheon, product development manager, OPITO. (Image source: OPITO)

To improve differentiation, hard hats can be customised with different colours and logos. (Image source: MSA Safety)

The new harness comes with integrated trauma suspension relief straps in leg pads. (Image source: Guardian)

Human factors need to be taken into account when addressing safety. (Image source: Adobe Stock)