BinDawood Receives Competition Authority’s Approval for Jumairah Trading Acquisition

BinDawood Holding Company announced on Monday that the General Authority for Competition has issued a non-objection certificate for the acquisition of 100% of the share capital of Jumairah Trading Company.

The investment, valued at SAR 186.5 million, will allow BinDawood to fully acquire Jumairah, a Limited Liability Company engaged in wholesale, retail, and distribution.

 Jumairah operates through four divisions: luggage, food, toys, and households, and reported net profits of SAR 22 million in the previous year, up from SAR 13 million in 2022, according to a statement on Tadawul.