BinDawood Holding Company signs the Agreement for the acquisition of Zahrat Al Rawdah Pharmacies LLC

BinDawood Holding —

BinDawood Holding Company signs the Sale and Purchase Agreement for the acquisition of Zahrat Al Rawdah Pharmacies LLC, a leading pharmacy chain in Kingdom of Saudi Arabia

BinDawood Holding Company, (ticker 4161), (BDH), has signed a Sale and Purchase Agreement (SPA) with Planet Pharmacies and Kawakeb AlSaydailyat, a prominent United Arab Emirates (UAE), Oman and Saudi Arabia based healthcare group, to acquire Zahrat Al Rawdah Pharmacies Company LLC, which is a leading pharmacy chain having 173 branches in Kingdom of Saudi Arabia (KSA). The Ultimate Parent Company of Zahrat Al Rawdah is Gulf Pharmaceutical Industries (Julphar) which is one of the largest pharmaceutical manufacturers in the Middle East and Africa.

Zahrat Al Rawdah’s primary activities include healthcare products including prescription, over-the-counter (OTC) medications, medical supplies, health and wellness products and personal care items.

This Strategic move will allow BinDawood Holding to expand its footprint in the health and wellness sector, and will establish a comprehensive destination for our clients, offering an extensive array of medical, wellness, and personal care products ensuring that customers in future have convenient access to essential pharmaceutical services inside its current Danube and BinDawood stores, facilitating smooth access to healthcare products alongside everyday essentials.

As part of this acquisition, Zahrat Al Rawdah will continue to operate under its established brand, which is well known for its commitment to providing quality health products and services. As the integration process begins, customers can look forward to personalized care from licensed pharmacists and a seamless shopping experience.

Commenting on this acquisition, Dr. Abdulrazzaq BinDawood, Chairman of the Board, BinDawood Holding, said: “This acquisition is a significant step in strengthening our presence in the health and wellness sector. By integrating pharmacy services into our stores, which enhances customer convenience and shopping experience. This move reflects our commitment to sustainable growth and customer engagement.”

Commenting on this acquisition, Mr. Ahmad A.R BinDawood, C.E.O, BinDawood Holding, said: “”This acquisition is in perfect alignment with our strategic vision and bolsters Saudi Arabia’s Vision 2030 by venturing further into the health and wellness sector and enriching our store network. By incorporating Zahrat’s 173 pharmacies into our retail landscape, we are set to establish a comprehensive destination for our clients, offering an extensive array of medical, wellness, and personal care products. This move positions BinDawood Holding as the pioneering retailer in the Kingdom of Saudi Arabia to integrate pharmacy services within its stores, facilitating smooth access to healthcare products alongside everyday essentials. This reflects our dedication to enhancing customer engagement and fostering sustainable growth in the long term.”