Jadwa Investment Acquires Majority Share in Saudi Beauty Retailer Makhazen Alenaya
Jadwa Investment has acquired a majority share in Makhazen Alenaya, a rising player in Saudi Arabia’s beauty and personal care market, as part of a broader push to invest in high-growth consumer businesses across the Gulf.
First published onEventackle ↗
Riyadh, Saudi Arabia – June 30, 2025: Jadwa Investment has acquired a majority share in Makhazen Alenaya, a rising player in Saudi Arabia’s beauty and personal care market, as part of a broader push to invest in high-growth consumer businesses across the Gulf.
The transaction was executed through Jadwa’s GCC Diversified Private Equity Fund and marks its fourth addition to the portfolio, following earlier investments in Gissah Perfumes, Blackspoon Group, and the fast-casual chain Tikkaway.
Launched in 2019, Makhazen Alenaya has expanded to 15 stores across the Kingdom. Its concept revolves around a curated, multi-category offering that blends affordability with a wide product range, designed to meet the preferences of a fast-evolving retail audience.
“Partnering with Jadwa Investment marks a defining milestone in Makhazen’s journey,” said co-founder and CEO Abdullah Almudaihesh. “We will leverage Jadwa’s deep expertise to accelerate our growth, strengthen our operational capabilities and governance, and unlock long-term value. This partnership will reinforce our leadership position in the Kingdom’s beauty and personal care sector and lay the foundation to list on the Saudi Exchange’s Main Market.”
Though financial terms were not disclosed, the acquisition deepens Jadwa’s exposure to Saudi Arabia’s consumer-facing economy at a time of rapid sector modernization driven by young demographics and economic reform.
“We are pleased to partner with Makhazen Alenaya in our second investment in the region’s retail sector,” said Jadwa managing director and CEO Tariq Al-Sudairy. “The transaction reflects our confidence in the Kingdom’s evolving consumer landscape, supported by far-reaching economic reforms and a shift toward modern retail formats.”
Jadwa highlighted Makhazen’s ability to deliver a broad assortment at consistently competitive prices through a streamlined retail platform—a foundation the firm says is primed for further scale.
“Makhazen is a clear category leader in a fast-evolving retail landscape,” said Elie El-Khoury, Jadwa’s head of private equity. “It pioneered value-driven pricing with premium customer experience, which sets it apart from traditional formats and positions it for significant growth. This investment reflects our strategy to back high-growth businesses with scalable, defensible platforms.”
As Saudi Arabia continues its transformation under Vision 2030, retail brands that combine operational agility with local consumer insight are increasingly drawing investor interest. For Makhazen, the new partnership could be a springboard into its next phase of expansion—and eventually, a public listing.
