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.

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.

“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.”