Al Majed For Oud inches closer to SAR 392 mn acquisition of GCC portfolio

Luxury fragrance brand Al Majed For Oud signed a non-binding offer (NBO) to acquire a portfolio of healthcare, beauty, and retail assets across the GCC from the Al Suwaih family, according to a Tadawul disclosure. The proposed transaction carries an enterprise value of SAR 392 mn.

What’s included? The six portfolio assets include Al Safa Pharma and Medical Supplies, UAE-based Safa Al Khaleej Trading, and Qatar-based Wahat Alsafa for Trading — all 100% owned by the sellers — along with Saudi-based Natural Touch, Bahrain’s Beauty Secrets (80% owned by the Al Suwaihs), and Oman-based Al Safa National Investment (50% owned by the family).

IN CONTEXT- The NBO expands on an MoU signed with the Al Suwaih family at end-2025, which covered only Al Safa Pharma.

What’s next? The parties have six months to finalize an agreement, with the portfolio subject to restructuring pending due diligence. If completed, Al Majed would have a footprint across five of the six GCC states.

ADVISORS- Al Majed tapped GIB Capital as financial advisor, with Khoshaim & Associates providing counsel.