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
Filippo Fagnani from Quanta System Receives the EAU Award for Significant Contribution to Endourology at ICE 202610.10.2026 18:09:00 CEST | Press release
Filippo Fagnani, Marketing & Scientific Director of Quanta System’s Surgical Division, has been honoured with the Award for Significant Contribution to Endourology at ICE26, the International Conference on Endourology organised by the EAU Endourology Section. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261010101303/en/ Filippo Fagnani receiving the prize with Olivier Traxer and Professor Bhaskar Somani. The recognition celebrates more than two decades of professional commitment to laser technology and a career built around a clear ambition: to translate the needs of urologists into increasingly precise, flexible and useful technologies, with the ultimate goal of supporting patient safety and better surgical outcomes. “I have always believed that technology should make the surgeon’s work more precise, more flexible and, most importantly, safer for the patient. My goal has never been to develop technology for its own sake,
Emdoor Information Marks 18 Years of Rugged Computing Excellence with Vertically Integrated Capabilities10.10.2026 12:30:00 CEST | Press release
As industrial automation, smart manufacturing, and field operations increasingly depend on mission-critical mobile computing, global demand for reliable rugged tablets, rugged laptops, and rugged handhelds continues to accelerate. Emdoor Information, a publicly listed company on China’s A-share main board since 2023 and an 18-year veteran in rugged computing, has established itself as a rugged computing solutions provider for industrial customers worldwide. Founded in 2008, the company delivers sustained growth, world-class manufacturing, resilient supply chains, full-stack R&D, and comprehensive lifecycle services. Its rugged computing products and industrial customers now span North America, Latin America, Europe, and Asia-Pacific, serving sectors such as public utilities, intelligent manufacturing, warehouse management, transportation, energy industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261010564561/en/ Rugged
Vertex to Present New Data on ALYFTREK® at the North American Cystic Fibrosis Conference9.10.2026 19:15:00 CEST | Press release
- Data on ALYFTREK in children ages 2 to 5 years demonstrate recovery of pancreatic function in some children –- Additional abstracts on clinical and real-world evidence on CFTR modulators also presented - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced new interim data from the ALYFTREK® (vanzacaftor/tezacaftor/deutivacaftor) 2 to 5 years old open-label extension study, highlighting recovery of exocrine pancreatic function in some children in that age group, allowing those children to discontinue pancreatic enzyme replacement therapy (PERT). Pancreatic exocrine insufficiency in children with cystic fibrosis (CF) was previously believed to be irreversible. These data were presented at the North American Cystic Fibrosis Conference (NACFC). “The data presented at NACFC underscore the safety and efficacy of our CF medicines in the real world and in clinical trials in younger age groups. The data from the Phase 3 open-label study in 2 to 5 year olds evaluating exocrine p
Andersen Consulting udvider med TalentSmartEQ for at fremme lederskab og virksomhedstransformation9.10.2026 18:48:00 CEST | Pressemeddelelse
Andersen Consulting styrker sine kompetencer inden for humankapital gennem en samarbejdsaftale med TalentSmartEQ, en San Diego-baseret virksomhed, der har fokus på at skabe praktiske, engagerende og handlingsorienterede læringsoplevelser med udgangspunkt i emotionel intelligens (EQ) og lederudvikling. I mere end to årtier har TalentSmartEQ arbejdet sammen med organisationer verden over med henblik på at udvikle ledelseskompetencer ved hjælp af emotionel intelligens og dermed styrke medarbejderengagement, teamwork og de samlede resultater. Virksomheden kombinerer forskningsbaserede metoder med praktiske læringsforløb, vurderinger, coaching og skræddersyede programmer, der skal omsætte opbygningen af emotionel intelligens til vedvarende ændringer i adfærden på arbejdspladsen. Som førende aktør i branchen samarbejder TalentSmartEQ med organisationer lige fra Fortune 500-virksomheder til offentlige myndigheder og privatejede virksomheder. "Organisationer stiller stadig større krav til dere
Verdant Rock Receives A (low) Financial Strength Rating from Morningstar DBRS, Adding a Second International Investment-Grade Assessment9.10.2026 16:00:00 CEST | Press release
Verdant Rock now holds Financial Strength Ratings from both Fitch Ratings and Morningstar DBRS, providing counterparties with dual-agency confirmation and reinforcing the security architecture behind each financial guarantee Verdant Rock Limited, a Bermuda Monetary Authority-regulated Class 3B insurance company, has received an A (low) Financial Strength Rating from Morningstar DBRS. The rating reflects Verdant Rock’s financial strength and its capacity to meet policyholder obligations as an investment-grade financial guarantor for Emerging Markets credit. Morningstar DBRS is a global credit rating agency with coverage across North America, Europe, Asia, and Latin America. Its assessment of Verdant Rock reflects the company’s strong projected earnings ability, robust risk profile, sound liquidity, and good capitalization. Morningstar DBRS also assigned an A (low) Issuer Rating to Verdant Rock. The rating follows Verdant Rock’s BBB+ Long-Term Insurer Financial Strength Rating with a Sta
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