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M&A flurry kicks off September: Four Tadawul-listed companies dropped updates on acquisitions spanning tech, glass manufacturing, food services, and restaurants as the Kingdom’s M&A pipeline continues to hum.
#1- Alamar Foods snaps up 29 Domino’s outlets: Alamar Foods, Domino’s master franchisee in the region, signed a SAR 40 mn binding offer to acquire the assets and operations of 29 Domino’s branches in Makkah and Taif from the owner of Future First Catering Establishment, previously run under a sub-franchise arrangement, according to a filing to Tadawul. The transaction, which is subject to customary closing conditions, will be financed through internal resources alongside Shariah-compliant facilities, with financial impact expected next quarter.
#2- Obeikan pens JV buyout: Obeikan Glass inked a SAR 22.9 mn sale and purchase agreement to take over the stakes of AGC France Holding (50%), Obeikan Investment Group (18.6%), and Saudi Advanced Industries (12.4%) in their coated-glass joint venture Obeikan AGC, it said in a bourse disclosure. The move, which is still subject to regulatory approval and customary closing conditions, will lift Obeikan’s ownership to 100% from 19%, giving it full control over strategy and operations.
#3- Burgerizzr closes Shovel acquisition: Shatirah House Restaurant (Burgerizzr) finalized terms to acquire 60% of Shovel Coffee Bean Trading in a transaction valued at SAR 10.3 mn, with a quarter of the proceeds earmarked to boost Shovel’s capital, it said in a disclosure. Burgerizzr first announced the acquisition last week, saying it would fund the stake from internal resources to tap into the Kingdom’s fast-growing coffee sector.
#4- WSM clears competition hurdle: WSM for Information Technology said it has received a no-notification-required certificate from the General Authority for Competition for its planned acquisition of Cyber Zone for Cybersecurity, according to a filing to Tadawul. The update follows the non-binding MoU WSM signed last month with Prime Capital Holding Company to buy up 100% of Cyber Zone.
IN OTHER M&A NEWS-
Saudi Industrial Export (Sadirat) extended its non-binding MoU with Entaj Industrial Services to acquire its subsidiary, Advanced Energy Trading and Contracting, it said in a Tadawul disclosure yesterday. The one-year extension, ending on 31 August 2026, aimed at the completion of studies and procedures regarding the acquisition. Sadirat signed a non-binding MoU with Entaj to acquire the capital of its subsidiary Advanced Energy Trading and Contracting in November 2024 .
