Jadwa buys majority stake in Saudi retailer Makhazen Alenaya
Saudi Arabiab - Jadwa Investment, a leading investment management and advisory firm in the Middle East, has announced the acquisition of a majority stake in Makhazen Alenaya through its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund.
The transaction marks the Saudi group's fourth investment under Jadwa GCC Diversified Private Equity Fund (formerly known as GCC Private Equity Fund I). The fund's prior investments include Gissah Perfumes, Blackspoon Group, and Tikkaway.
Founded in 2019, Makhazen is a fast-growing Saudi retail concept with 15 branches across the kingdom. The company has redefined the beauty and personal care sector by pioneering an emerging retail format: the multi-category specialist.
Makhazen offers a wide, curated product range at consistently affordable prices and through a premium one-stop-shop experience.
Backed by strong consumer traction and a scalable operating model, the company is poised to expand its footprint across Saudi Arabia.
Tariq Al Sudairy, the Managing Director & CEO of Jadwa Investment, said: "We are pleased to partner with Makhazen Alenaya in our second investment in the region's retail sector. The transaction reflects our confidence in the Kingdom's evolving consumer landscape, supported by far-reaching economic reforms and a shift toward modern retail formats."
Headquartered in Riyadh, Jadwa boasts more than SAR100 billion ($30 billion) in client assets across public equity, private equity, real estate, private credit, fixed income, and money market investments.
Its clients include government-related entities, local and international institutional investors, prominent family offices, and high-net-worth individuals.
Elie El Khoury, Head of Private Equity at Jadwa Investment, said: "Makhazen is a clear category leader in a fast-evolving retail landscape. It pioneered value-driven pricing with premium customer experience, which sets it apart from traditional formats and positions it for significant growth."
"This investment reflects our strategy to back high-growth businesses with scalable, defensible platforms."
Abdullah Almudaihesh, the Co-Founder and CEO of Makhazen Alenaya, said: "Partnering with Jadwa Investment marks a defining milestone in Makhazen's journey. We will leverage Jadwa's deep expertise to accelerate our growth, strengthen our operational capabilities and governance, and unlock long-term value."
"This partnership will reinforce our leadership position in the Kingdom's beauty and personal care sector and lay the foundation to list on the Saudi Exchange's Main Market," he added.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
8 minutes ago
- Arabian Business
Sharjah Airport expects 800,000 passengers in summer travel rush
Sharjah Airport is set to welcome more than 800,000 passengers from July 1 to 15, 2025, as it expects a significant increase in travel volume during the peak summer season. The airport has announced a comprehensive plan to provide a seamless travel experience for all passengers. Sharjah Airport Authority (SAA) has outlined a series of operational measures in coordination with strategic partners to ensure the highest levels of efficiency and comfort. Sharjah Airport Summer 2025 Efforts are being intensified around the clock by working teams and customer service staff to provide necessary support, respond to passenger inquiries, and guide them in using the airport's smart services and innovative technologies with ease. This ensures a smooth and integrated travel experience. In this context, the authority continues to enhance all logistical and health aspects, while updating security procedures to keep pace with the rapid developments in the aviation sector. Sharjah Airport urges passengers to arrive at the airport three hours before their flight to avoid any potential delays in completing travel procedures. Passengers are also advised to communicate with their airlines in advance to verify flight times and any updates. The SAA reaffirms its commitment to providing the highest levels of service during peak periods, adhering to the highest safety standards, further reinforcing Sharjah Airport's position as a preferred travel hub and a key player in regional and international travel.
The National
2 hours ago
- The National
Dubai's biggest lender Emirates NBD to start charging for remittances
Emirates NBD, Dubai's biggest bank by assets, will start charging fees for international transfers made via its app or online banking from September 1. The bank will charge a fee of Dh26.25 for remittances, including those made through DirectRemit, it said in an email to customers. DirectRemit is a platform that allows customers to transfer money via online or mobile banking in 60 seconds to countries including India, Pakistan, Sri Lanka, Egypt, the Philippines and the UK. Emirates NBD will also charge a fee of up to Dh26.25 for recalling and cancelling local and international transfers, it said. The move by the lender may prompt other banks to start imposing fees on remittances and may be a boon for exchange houses who offer lower charges, an analyst said. 'Introducing a Dh26.25 fee from September 2025 marks a shift, and as the largest local bank sets the tone, it's possible others may follow,' Dhruv Tanna, associate vice president at DIFC-based investment and wealth management firm PhillipCapital, told The National. Some lenders such as RAK Bank already impose a fee for international transfers, charging Dh15.75 for the Philippines and Dh26.25 for India, according to its website. Mashreq bank has zero fees for Pakistan and India, but charges a flat fee of Dh26.25 for the Philippines, according to its website. Others such as FAB have zero transfer fees for instant transfers to countries including India, Pakistan, Philippines, Sri Lanka, the UK and the EU, according to its website. 'For exchange houses, this presents a renewed opportunity to attract price-sensitive customers with lower transfer fees and competitive rates. Still, many mid- to high-income customers may continue to choose banks for the convenience, even with a nominal charge,' Mr Tanna said. Based on World Bank data, remittances to low- and middle-income countries are expected grow by 2.3 per cent in 2024 and 2.8 per cent in 2025, reaching $690 billion in 2025. Remittances by expatriates in the UAE and wider region to their home countries are a major source of foreign currency inflows for those economies.
Khaleej Times
2 hours ago
- Khaleej Times
UAE travel: Emirates extends cancellation of flights to and from Tehran until July 5
Dubai's flagship carrier Emirates on Saturday said its flights to and from Tehran, Iran, will remain suspended till July 5, 2025. The decision comes as Iran's airspace remains closed for airlines despite the Israel-Iran ceasefire that followed a 12-day conflict between the two countries. UAE airlines have mostly resumed their operation as scheduled prior to the air war. Flightradar24 said: 'flight routes are returning to near-normal in the Middle East' after bombs and missiles". Data showed that airlines are also avoiding Syrian airspace due to geopolitical tension in the region. Emirates, the Dubai-based carrier and the world's largest international airline, said operations to Baghdad will recommence on Tuesday, July 1, 2025, and Basra on Wednesday, July 2, 2025. Customers connecting through Dubai to Iraq will be accepted for travel at their point of origin. It added that customers connecting through Dubai with final destinations in Iran will not be accepted for travel at their point of origin until further notice. 'Customers impacted by flight cancellations must contact their travel agency for rebooking,' it said. 'The safety of our passengers, employees and operations will always be our top priority,' it said.
