EFG Hermes Facilitates Kazyon’s Landmark Acquisition of Dukan
EFG Hermes announced the successful conclusion of a merger and acquisition (M&A) deal for Kazyon, a prominent MENA-based discount retailer. In this transaction, Kazyon acquired a 50% stake in Dukan, the sole discount retailer in Saudi Arabia, marking its strategic entry into the Saudi market. The remaining 50% stake in Dukan will be retained by the existing shareholder, Al Dabbagh Group.
The Group General Counsel at EFG Hermes is Mohamed Gabr (pictured)
Dukan, a fast-growing convenience retail grocery company in Saudi Arabia, was founded in 2013 by Al-Dabbagh Group. It has over 100 neighbourhood stores across Jeddah, Makkah, and Al Taif, with plans to expand to Riyadh.
Karim Galal, Managing Director at EFG Hermes’ Investment Banking Division, expressed pride in facilitating Kazyon’s acquisition of Dukan. He highlighted that the transaction aligns with their strategic objective of expanding their presence in Saudi Arabia and underscores their capability to lead transformative transactions.
Kazyon, established in 2014, has emerged as a distinguished player in the regional discount retail sector, with over 1,000 stores in Egypt and Morocco. This acquisition marks a significant milestone in Kazyon’s ongoing regional growth endeavours, which included the successful introduction of Kazyon in Morocco in 2023.