{"id":83152,"date":"2024-02-06T00:00:00","date_gmt":"2024-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/06\/kazyon-expands-to-saudi-arabia-acquiring-50-of-discount-retailer-dukan\/"},"modified":"2024-02-06T00:00:00","modified_gmt":"2024-02-06T00:00:00","slug":"kazyon-expands-to-saudi-arabia-acquiring-50-of-discount-retailer-dukan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/06\/kazyon-expands-to-saudi-arabia-acquiring-50-of-discount-retailer-dukan\/","title":{"rendered":"Kazyon expands to Saudi Arabia, acquiring 50% of discount retailer Dukan"},"content":{"rendered":"

Kazyon sets foot in Saudi:<\/strong> Kazyon Limited, the UK-based parent company of Egyptian discount supermarket chain Kazyon, has acquired a 50% stake in Saudi grocery chain Dukan \u2014 the Kingdom\u2019s sole discount retailer \u2014 through a SAR 250 mn (c. USD 66.7 mn) capital increase, according to a press release (pdf)<\/a>. The transaction marks Kazyon\u2019s first investment in Saudi Arabia.<\/p>\n

Where is the money going? <\/strong>The investment will help roll out more Dukan stores across the Kingdom as part of Kazyon\u2019s plan to expand its portfolio to 5k stores across Egypt, Morocco, and Saudi Arabia within the next five years, a fivefold increase from its current network, backed by its own end-to-end logistics network.<\/p>\n

All about Kazyon:<\/strong> Kazyon was founded in 2014 by our friend Hassan Heikal, the former EFG Hermes CEO, and has grown to become the largest discount retailer in Egypt. It sells a range of food and household products at competitive price points. Kazyon entered the Moroccan market last October.<\/p>\n

\u201cThe transaction was funded by introducing to the capital structure of Kazyon a global sovereign wealth fund<\/strong> as we solidify our position as a leading grocery retailer in the region,\u201d Heikal said.<\/p>\n

ICYMI-<\/strong> A consortium led by our friends at Africa-focused private equity firm Development<\/a>Partners International<\/a> (DPI) invested USD 165 mn<\/a> in Kazyon last April to help the company expand its presence in Egypt. In addition to Heikal and DPI, the company counts among its shareholders \u201ca leading global sovereign wealth fund, major development finance institutions, FIM Capital, Sango Capital, and regional family offices.\u201d<\/p>\n

ADVISORS- <\/strong>Evercore Partners, EFG-Hermes, White & Case and PWC.<\/p>\n","protected":false},"excerpt":{"rendered":"

Transaction was by an investment by an unnamed sovereign fund<\/p>\n","protected":false},"author":1,"featured_media":83153,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[30,898,10,897,14,211],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-consumer","tag-dukan","tag-enterpriseam-ksa","tag-kazyon","tag-ma-watch","tag-retail","wpautop","entry"],"acf":{"mongo_id":"84d8b1ca-2be1-4d3c-ab14-31f6057d72df","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/325.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Kazyon expands to Saudi Arabia, acquiring a 50% stake in supermarket chain Dukan","related_issue":[83144],"teaser":"Transaction was by an investment by an unnamed sovereign fund","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.f2e67857-d48c-4876-afdb-6a555b792c21.mp3"},"yoast_head":"\nKazyon expands to Saudi Arabia, acquiring 50% of discount retailer Dukan - 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