Saudi Arabia-based Jadwa Investment has acquired a majority stake in local retailer Makhazen Alenaya through its Jadwa GCC Diversified Private Equity Fund.
This marks the fund’s fourth investment, following stakes in Gissah Perfumes, Blackspoon Group and Tikkaway.
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Established in 2019, Makhazen operates 15 branches across Saudi Arabia.
The retailer focuses on the beauty and personal care sector, offering a multi-category specialist format.
Makhazen Alenaya co-founder and CEO Abdullah Almudaihesh stated: “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.
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By GlobalData“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.”
Makhazen provides a diverse product selection at consistently affordable prices through a single retail platform, according to a statement from Jadwa Investment.
Its operating model supports plans for further expansion in Saudi Arabia.
Jadwa Investment managing director and CEO Tariq Al-Sudairy commented: “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.”
Jadwa Investment private equity head Elie El-Khoury added: “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 scaleable, defensible platforms.”
