Private equity firm Gulf Capital has bought Saudi Arabian food and drinks distributor Multibrands, which was established in 2006 and specialises in supplying and distributing a variety of products in Saudi Arabia. This is Gulf Capital's second large food and beverage deal after it had bought Dubai-based Chef Middle East, an importer and distributor of food products in 2013. According to Chief Executive Officer Karim El Solh, the company is planning to spend an additional USD250 million (using USD1 billion it had raised from equity and debt funds), on two or three additional deals in 2016, mainly across defensive sectors such as healthcare, business services and energy.  On another note, Gulf Capital has been considering an initial public offering, but will wait for at least two or three years until market conditions improve. (Reuters, Zawya)