Standard Chartered Private Equity (“SCPE”) announced today the acquisition of a significant minority stake in Al Jazeera Agricultural Company (“Al Jazeera”), the only fully integrated poultry and chicken feed producer and distributor in Jordan, through an equity investment of US$ 35 million. Al Jazeera is headquartered in Jordan and its main products include fresh and frozen chicken to retail consumers and wholesalers, parent and broiler hatching eggs and chicks, and chicken feed. The proceeds will be used to help position Al Jazeera in achieving its robust growth plans and to support its envisaged geographical expansion. SCPE will be granted two board seats and will provide strategic insight towards delivering on Al Jazeera’s regional expansion ambitions.

This is the first investment in the Middle East and North Africa (“MENA”) food and agriculture sector for SCPE, first investment in Jordan and the fifth investment overall in the region. SCPE is committed to investing in successful MENA businesses across sectors and is actively seeking opportunities across the Middle East. SCPE invests in companies with proven cash flows, backed by best in class management teams in flexible private equity or mezzanine structures.

Taimoor Labib, Regional Head of MENA Private Equity & Head of Global Private Equity Portfolio Management at SCPE said: "We are thrilled to become strategic partners with one of the leading poultry companies in Jordan. Al Jazeera’s high quality management team, strong growth prospects and successful backward integration has been impressive and we are pleased for this investment to be both our first in Jordan and our first in the MENA food and agricultural sector, as well as our fifth investment overall in the region. We look forward to working with our partners at Al Jazeera to take the company to a regional level and assist with its growth story.” Mr. Labib and his colleague Mr. Tariq Baareh will be joining Al Jazeera Board on behalf of SCPE.