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Huda Beauty spins off fragrance line Kayali to co-founder Mona Kattan, General Atlantic: Dubai-based beauty giant Huda Beauty is planning to sell its fragrance brand Kayali to co-founder Mona Kattan and New York-based private equity firm GeneralAtlantic, they said in a joint statement. Following the transaction, which is pending regulatory approvals, Mona Kattan will “jointly own” the fast-growing fragrance brand alongside General Atlantic. Kattan will also continue to serve as company CEO, with Kayali operating independently. The financial terms of the transaction were not disclosed.
The goal for Kayali now is to “expand our global presence and continue disrupting the fragrance industry with bold innovation,” CEO Kattan said.
The transaction will allow Huda Beauty’s owners to buy back the stake held by TSG Consumer Partners since 2017, marking a return to full founder ownership — a rare move in the beauty sector.
We knew this was coming: Reports of a potential sale of Kayali emerged in September last year.
About Huda Beauty: Founded in 2013 by sisters Huda, Mona and Alya Kattan, Huda Beauty has grown into a powerhouse with a valuation of over USD 1 bn. Kayali, helmed by Mona Kattan, features about two dozen fragrances available at major retailers such as Sephora and Walgreens.
ADVISORS- Huda Beauty appointed Goldman Sachs as its financial advisor for the move with Gibson Dunn providing legal counsel, while Skadden, Arps, Slate, Meagher & Flom serve as Mona Kattan’s legal advisors. General Atlantic tapped Raymond James as its financial advisor, with Latham & Watkins providing counsel.
OTHER M&A NEWS-
ADQ appoints co-lead managers for Aramex takeover bid: ADQ appointed EFG Hermes UAE and International Securities as co-lead managers alongside Emirates NBD Capital for its voluntary conditional cash offer to acquire up to 100% of Aramex, according to a DFM disclosure (pdf).
ICYMI: ADQ’s subsidiary Q Logistics Holding offered to acquire all Aramex shares not already owned by AD Ports, another ADQ subsidiary that currently holds a 22.69% stake. Shareholders have until 14 March to accept or reject the AED 3 per share offer, valuing the logistics firm at AED 4.4 bn. The transaction is expected to close in 3Q 2025.
