Ferrero Gulf and Al Bustan Al Khaleeji form joint venture

Partnership establishes a Direct Distribution Channel for Ferrero products in Kuwait

Ferrero Gulf and Al Bustan Al Khaleeji form joint venture

Kuwait City: The Ferrero Group (“Ferrero”), a global confectionary group, and Al Bustan Al Khaleeji (BK), a leading FMCG food distribution company operating in Kuwait, announced a strategic joint venture agreement. Effective immediately, the joint venture – named Fergulf Kuwait General Trading WLL – will see both parties combine forces to directly distribute Ferrero products across the Kuwaiti market.

The launch of Fergulf Kuwait General Trading WLL is the culmination of a longstanding working relationship between Ferrero Gulf and BK – one that began decades ago.

Designed to consolidate the partnership between both parties, the strategic agreement will see Ferrero apply its unique business approach and know-how to the Kuwaiti market. This in turn will open up new avenues of growth, which include opportunities for local business expansion and the development of new products or strategies.

Commenting on the joint venture, Mohammed Tawfiq Bin Sultan, Managing Director at BK, said: “The new joint venture is a key milestone for us and a solid manifestation of BK’s and Ferrero’s commitment to further strengthen the relationship. We are confident this strategic alliance will build on the momentum of the past and allow rapid business growth in the years to follow.”

Echoing Bin Sultan’s statement, Guido Ferralasco, Managing Director, Ferrero Gulf, added: “We’re delighted to form this joint venture with BK – a longstanding trusted partner of ours – and believe this strategic alliance is pivotal to the success of Ferrero Gulf in Kuwait moving forward. A direct distribution channel ensures Ferrero and BK can take the business to new heights.” 

About Ferrero
Founded as a family business in Alba, Italy in 1946, Ferrero is the third-largest company in the global chocolate confectionary market, with global sales of over $12 billion, distribution across over 170 countries, and a workforce of more than 30,000 people across 55 countries.

Since the beginning, in Ferrero, innovation combines modern methods with ancient passion, permeating all steps of the value chain, from research and development to the final product. Nutella, Ferrero Rocher, Raffaello, Tic Tac and the Kinder line (Kinder Surprise, Kinder Joy, Kinder Bueno, Kinder Chocolate, Kinder Milk Slice, Kinder Pingui, Kinder Delice) are some of the Ferrero products best known and appreciated all around the world.

About Al Bustan Al Khaleeji
BK is a leading FMCG food distribution company operating in the state of Kuwait since 1978. With over 50 years of expertise in the business, BK represents world-renowned brands in confectionery, snacks, frozen, canned food and other fast-moving consumer goods. BK is a subsidiary of Towell International Holding, a 150-year-old family business spread across the MENA region.

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases