BinDawood Holding signed a sale and purchase agreement for the full acquisition of Zahrat Al Rawdah Pharma for SAR 444.1 mn from Kawakeb Al Saydailyat, according to a press release (pdf) and a disclosure to Tadawul. Zahrat Al Rawdah’s mother company, Gulf Pharma Industries, had disclosed the planned acquisition earlier this week, saying that the transaction is expected to close by 1Q 2025.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The breakdown: BinDawood paid SAR 40.8 mn as an upfront deposit when signing the agreement, with the remaining balance due later subject to certain adjustments in accordance with the signed agreement. Planet Pharma has stepped in as a seller guarantor for the acquisition.

The pitch: The acquisition will enable BinDawood to integrate pharma products at its retail outlets, expanding its footprint in the health and wellness sector. Zahrat Al Rawdah will retain its brand identity post-acquisition.

About Zahrat: Zahrat Al Rawdah Pharma, a wholly-owned subsidiary of UAE-based Gulf Pharma Industries’ (Julphar) retail and distribution arm, currently operates 173 Zahrat Al Rawdah pharmacies in the Kingdom.

Tags: