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
Yamaha to Acquire Disguise, Expanding Its Capabilities in Integrated Audio, Video, Lighting and Media13.11.2026 08:00:00 CET | Press release
Acquisition combines Yamaha’s audio expertise with Disguise’s software and media server technologies Yamaha Corporation today announced an agreement to acquire Disguise Technologies Limited (“Disguise”), a London-based provider of software and media server technologies for live and immersive experiences. Yamaha will acquire the company by purchasing all shares in its parent, Butterfly Topco Limited. The acquisition will expand Yamaha’s capabilities beyond audio into integrated audio, video, lighting and media solutions, in line with its strategy to expand beyond hardware into software and services. By combining Yamaha’s audio expertise and global reach with Disguise’s software, technologies and worldwide partner network, the companies will be better positioned to deliver immersive experiences across live entertainment, sports and other venues. Disguise’s technology powers live and immersive experiences worldwide, including tours by Beyoncé and Taylor Swift and venues such as New York’s
Mexico Becomes the First Market Worldwide to Receive Approval for Galderma’s Restylane® Shaype™ for Both Chin and Its First Jawline Indication13.11.2026 07:00:00 CET | Press release
Restylane Shaype is now approved in Mexico for temporary augmentation in the chin area and improvement of jawline definition,1 with launch anticipated in H1 2027 Already approved across various markets globally for the chin area,2 this marks Restylane Shaype’s first approval for the jawline worldwide1 The first-and-only shaper on the hyaluronic acid (HA) market, Restylane Shaype features the firmest HA gel available and is powered by proprietary NASHA HD™ technology, developed to build and shape on bone for instant, natural-looking contour and definition3-6 The approval reinforces Galderma's commitment to advancing innovation in the HA category, enabling the company to meet diverse patient needs Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that Restylane Shaype has been approved for temporary augmentation in the chin area and improvement of jawline definition in Mexico.1 This is the product’s first approval globally for the jawline, and further expan
vVARDIS Announces Pricing of Initial Public Offering13.11.2026 06:02:00 CET | Press release
vVARDIS Holding AG (“vVARDIS”), a Swiss healthcare company operating in the dental med-tech sector, today announced the pricing of its initial public offering of 9,722,223 Class A ordinary shares at a public offering price of $18.00 per share. In connection with the offering, vVARDIS has granted the underwriters a 30-day option to purchase up to an additional 1,458,333 Class A ordinary shares at the initial public offering price to cover over-allotments. The Class A ordinary shares are expected to begin trading on the New York Stock Exchange on November 13, 2026 under the symbol “VVVV.” The closing of the offering is expected to occur on or about November 16, 2026 subject to the satisfaction of customary closing conditions. Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint bookrunning managers for the offering, with William Blair, UBS Investment Bank and Deutsche Bank Securities acting as bookrunners. A registration statement on Form F-1 relating to the offering has been file
Empire State Building Observation Deck to Debut ‘Olympus Awaits,’ An Immersive ‘Percy Jackson and the Olympians’ Takeover in the Heart of NYC, On Display from Nov. 16 – Dec. 4*12.11.2026 23:07:00 CET | Press release
The multi-level takeover includes a Throne Room, interactive photo opportunities, special lighting, and more The Empire State Building (ESB) is the gateway to Mount Olympus in Percy Jackson’s world, and now fans can experience the magic like never before. On Nov. 16, the Empire State Building Observation Deck (ESBOD) will unveil “Olympus Awaits,” a multi-level “Percy Jackson and the Olympians” takeover, in partnership with Disney+. The immersive takeover – included with every Observation Deck ticket – will feature an epic Throne Room, interactive photo opportunities, surprise giveaways, ESB x “Percy Jackson” merch, and more, available through Dec. 4, 2026.* This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112442266/en/ Empire State Building Observation Deck to Debut ‘Olympus Awaits,’ An Immersive ‘Percy Jackson and the Olympians’ Takeover in the Heart of NYC, On Display from Nov. 16 – Dec. 4* “This immersive NYC experience
Clene Nanomedicine Partners with Veristat to Reduce Biostatistical Output Time by 80% for ALS New Drug Application12.11.2026 18:09:00 CET | Press release
Veristat’s InStat™ delivers submission-ready tables, listings, and figures (TLFs) in one week using validated statistical engines, shortening the critical path from database lock to submission VeristatTM, a global clinical research organization (CRO) and consultancy specializing in complex studies, announced that it has partnered with Clene Nanomedicine to cut the time to deliver biostatistical outputs for a pivotal ALS drug application submission by 80%. Veristat reduced the time from study data to validated tables, listings and figures (TLFs) from up to six weeks to just one week. Clene, a late-stage biotech company, leveraged Veristat’s recently launched InStat™ platform, the industry’s first zero-code, fully automated solution to accelerate clinical trial processes. Biostatistical TLFs sit on the critical path for submissions, yet most sponsors rely on antiquated processes that involve slow, manual workflows to produce them, making post-database lock one of the biggest bottlenecks
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