KAZYON
6.2.2024 06:01:28 CET | Business Wire | Press release
Kazyon Limited, the UK parent company of Kazyon, today completed the acquisition of 50% of the equity share capital of Dukan for SAR 250m, expanding its operations into Saudi Arabia, the largest grocery retail market in the region at c.USD 40bn of annual turnover.
Founded in 2013 and operating over 100 stores, Dukan is the sole grocery discount retailer in Saudi Arabia. The acquisition was structured via a capital increase, allowing invested capital to be used to accelerate Dukan’s store rollout. With modern trade channel penetration of only c.50%, the Saudi Arabian market presents ample room for growth. The discounter approach to market is to disrupt conventional modern trade operational patterns, while also gaining market share from traditional trade.
Since its founding in 2014 by Hassan Heikal, Kazyon has been committed to providing increased access of affordable products to underserved markets. The company has experienced rapid growth and is now the leading discount grocery retailer across the Arab world and Africa with over 1,000 stores. Kazyon aims to be a top three player in Saudi Arabia and Morocco after becoming the largest grocery retailer in Egypt. Kazyon is expected to have a network of over 5,000 stores in the next five years across Saudi Arabia, Egypt and Morocco. Kazyon will be supported by its proprietary end-to-end logistics capabilities that fully integrate its distribution centres, fleet of transport vehicles and stores.
Alongside Mr Heikal, Kazyon Limited is owned by a leading global sovereign wealth fund, major DFIs, blue-chip emerging markets private equity platforms (including Development Partners International, FIM Capital and Sango Capital) and regional family offices, among others.
The investment in Dukan is in-line with Kazyon’s expansion plans and will provide for a more diversified regional platform. Further, significant synergies are expected to be realised, including across supplier purchase agreements and sharing of best practices, among others.
Hassan Heikal, Chairman and Founder of Kazyon said: “This acquisition marks an important milestone for Kazyon as it accelerates its growth and expands into Saudi Arabia, one of the most attractive grocery retail markets in the region. We are excited by the prospects for the business in the Kingdom. The transaction was funded by introducing to the capital structure of Kazyon a global sovereign wealth fund as we solidify our position as a leading grocery retailer in the region.”
Kazyon was advised by Evercore Partners, EFG-Hermes, White & Case and PWC.
ENDS
About Kazyon
Founded in 2014 by Hassan Heikal, Kazyon is the largest discount retailer in the Arab world and Africa currently operating over 1,000 stores and employing more than 7,000 colleagues. Kazyon has been steadily increasing its store footprint in recent years, supported by its proprietary end-to-end logistics capabilities that fully integrate its distribution centres, fleet of transport vehicles and stores.
Kazyon provides millions of customers access to affordable, high-quality products, delivered through a network of consistent, recognizable neighbourhood stores and currently has one of the largest loyalty schemes in the Arab world and Africa.
Alongside its founder Heikal Hassan, Kazyon is backed by an investor base including Development Partners International, FIM Capital, Sango Capital, South Suez Capital, British International Investment, a global sovereign wealth fund and regional investment offices, among others.
About Dukan
Founded in 2013, Dukan is the sole grocery discount retailer in Saudi Arabia. Dukan currently operates over 100 stores across three cities located in the Makkah province, employing more than 500 colleagues. Dukan offers a full range of basic groceries and a differentiated assortment of private-label products at discounted prices, currently serving over 50,000 customers daily.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240204511713/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Focused Support Launches Cavok STRIKE to Expand Link-16 Participation Across the Joint Force14.9.2026 07:00:00 CEST | Press release
Extending Link-16 interoperability without platform-level hardware integration Focused Support LLC today announced the launch of Cavok STRIKE, an integrated software capability that expands the Link-16 tactical battlespace picture by enabling additional operational platforms to participate in the Link-16 network. Modern battlefields have increasing numbers of unmanned systems, sensors, and supporting platforms operating throughout the joint battlespace. The rapid proliferation of Group 1, 2, and 3 UAS, including both expendable and recoverable systems, has created a growing need to integrate these assets into the broader tactical network. Many of these platforms provide operationally relevant information but have historically remained outside the Link-16 network due to limitations in size, weight, power, platform integration complexity, or acquisition cost. Cavok STRIKE addresses this gap by enabling platforms to participate in the Link-16 network as non-command-and-control participant
Fujirebio Expands Access to Blood-based Neurology Testing in Brazil with ANVISA Market Authorization for Lumipulse® G NfL Blood and Lumipulse G pTau 217 Plasma14.9.2026 07:00:00 CEST | Press release
H.U. Group Holdings Inc. and its wholly owned subsidiary Fujirebio today announced that the Brazilian Health Regulatory Agency (ANVISA) has granted market authorization for the Lumipulse G NfL Blood and Lumipulse G pTau 217 Plasma assays for use on the fully automated LUMIPULSE® G immunoassay platform in Brazil. “ANVISA authorization of the Lumipulse G NfL Blood and Lumipulse G pTau 217 Plasma assays marks another important step in our mission to expand access to reliable, clinically meaningful blood-based biomarkers for clinicians and patients worldwide,” said Christiaan De Wilde, CEO of Fujirebio Europe N.V. “By making both neurological biomarker assays available to laboratories on a single, fully automated platform, we are helping support more informed clinical decision-making across a broad range of neurological conditions and throughout the diagnostic pathway.” The Brazilian ANVISA authorizations are based on the already CE marked in vitro diagnostics (IVD) approvals of these two
MEX Exchange, Part of MultiBank Group, Expands Executive Team as International Growth Accelerates14.9.2026 07:00:00 CEST | Press release
• Brian Liedberg joins MEX Exchange, bringing more than 30 years of experience across global capital markets, electronic trading and FinTech MEX Exchange, the institutional electronic trading platform of MultiBank Group, has announced the appointment of Brian Liedberg as Chief Revenue Officer and Global Head of Sales, strengthening its commercial leadership as the company continues to develop its institutional trading business and expand its presence across international markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260913319267/en/ Brian Liedberg joins MEX Exchange, bringing more than 30 years of experience across global capital markets, electronic trading and FinTech Liedberg brings more than 30 years of experience across global capital markets, electronic trading and financial technology, with a career spanning institutional sales, business development, commercial strategy and revenue growth. Prior to joining ME
Signaloid Announces Appointment of Quantitative Finance and Cloud Veterans to Advisory Board and Senior Commercialization Roles14.9.2026 05:00:00 CEST | Press release
Signaloid strengthens commercialization momentum with the appointment of two senior advisors in quantitative finance and cloud infrastructure.Dr. Han Lee, former Global Head of Quantitative Strategies and Automated Trading at Morgan Stanley, joins to chair Signaloid’s advisory board.Dr. Nachiketh Potlapally, Distinguished Engineer at Nscale, and previously Security Architect at Oracle Cloud Infrastructure and AWS, joins as Signaloid expands deployment of its UxHw technology across cloud and edge environments.Christian Roth, former Senior Director Enterprise Sales / formerly Director Product Marketing EMEA (Data Center, Business Clients, Storage and Networking), Intel. British technology company Signaloid today announced the appointment of three distinguished industry veterans to its advisory board and senior leadership roles, to strengthen the commercialization momentum behind its technology: Dr. Han Lee, former Global Head of Quantitative Strategies and Automated Trading for the Fixed
SES’s Final Three O3b mPOWER Satellites Successfully Launched13.9.2026 22:22:00 CEST | Press release
Additional O3b mPOWER satellites complete constellation and strengthen performance, resiliency and reach of SES's MEO network SES today announced the successful launch of its eleventh, twelfth and thirteenth O3b mPOWER satellites, further expanding its second-generation medium Earth orbit (MEO) system designed to offer high-performance connectivity services around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260913914517/en/ SES’s Final Three O3b mPOWER Satellites Successfully Launched The three satellites launched at 2:49 pm local time aboard a SpaceX Falcon 9 rocket from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station. “This launch marks a defining milestone for SES as we complete the O3b mPOWER constellation and further strengthen our MEO capabilities,” said Adel Al-Saleh, CEO of SES. “More importantly, it reinforces our ability to deliver resilient, secure and scalable connectivity for
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom