{"id":101100,"date":"2025-02-26T00:00:00","date_gmt":"2025-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/multiply-acquires-67-9-of-spanish-retail-group\/"},"modified":"2025-02-26T00:00:00","modified_gmt":"2025-02-26T00:00:00","slug":"multiply-acquires-67-9-of-spanish-retail-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/26\/multiply-acquires-67-9-of-spanish-retail-group\/","title":{"rendered":"Multiply acquires 67.9% of Spanish retail group"},"content":{"rendered":"

Abu Dha<\/strong>bi-based investment firm <\/strong>Multiply Group<\/a><\/strong> acquired a 67.91% stake in <\/strong>Spanish fashion retail group<\/strong> Tendam<\/a><\/strong>, they said in a joint statement<\/a>. Multiply acquired the stake in Castellano Investments, Tendam\u2019s parent company, through a capital increase. The acquisition marks its first major investment in Europe, according to the statement. <\/p>\n

It is now the majority shareholder <\/strong>along with CVC Funds and PAI Partners, however the value of the acquisition, which is subject to regulatory approval, was not disclosed in the company statement. Spanish outlet Expansion<\/a> said the company \u2014 which owns brands like Women\u2019s Secret, Springfield, and Cortefiel \u2014 was valued at EUR 1 bn in the transaction. CVC and PAI previously owned nearly 50% of the company each, Reuters<\/a> reports.<\/p>\n

What\u2019s next?<\/strong> Post-acquisition, Multiply will be the anchor for Tendam\u2019s international expansion and development of an omnichannel system. The statement said Tendam has been growing its market footprint, bringing in sales of EUR 1.4 bn y-o-y at the end of last month, though Tandem postponed plans last summer for an IPO scheduled for last month due to the effect of political instability on the stock market and market uncertainty, Reuters<\/a> reported.<\/p>\n

Multiply embarked on an acquisition spree last year<\/strong>, acquiring a 51% stake in Excellence Premier Investment through its subsidiary in July<\/a>, 100% of The Grooming Company Holding (TGCH) in June<\/a>, and 100% of advertising company BlackLite Media at the start of the year<\/a>.<\/p>\n

ADVISORS- <\/strong>Greenhill, Hogan Lovells and KMPG advised Multiply, whilst Uria Menendez advised Castellano Investments. Ram\u00f3n Hermosilla, Abogados and Lathan & Watkins were legal advisors.<\/p>\n

\n

OTHER M&A NEWS-<\/p>\n

UAE-base<\/strong>d food and beverage group <\/strong>Epik Foods<\/a><\/strong> acquired Dubai-based deli <\/strong>1762<\/a><\/strong>, it said in a press release<\/a>. The acquisition comes within Epik Foods\u2019 expansion and diversification trajectory which includes plans to add 20 more locations to its existing 50 strong location footprint, operating over 60 brands. 1762 will retain its branding and Epik Foods will provide operational and strategic support.<\/p>\n

ICYMI-<\/strong> Epik Foods secured USD 15.5 mn in private capital funding from Ruya Partners last November<\/a> to scale its operations. It also expanded its operations into Saudi Arabia earlier that year<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition makes Multiply a majority shareholder<\/p>\n","protected":false},"author":1,"featured_media":101101,"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":[2392],"tags":[7,678,1344,60,814],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-food-and-beverage","tag-ma","tag-ma-watch","tag-multiply-group","wpautop","entry"],"acf":{"mongo_id":"853cfd24-2e7b-438a-9aa7-9908ce171bd3","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2491.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Multiply acquires 67.9% of Spanish retail group","related_issue":[101091],"teaser":"The acquisition makes Multiply a majority shareholder","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.7336a237-2e67-4201-baf4-c98d833c69ae.mp3"},"yoast_head":"\nMultiply acquires 67.9% of Spanish retail group - 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