RIYADH: Saudi Arabia's Jadwa Investment has acquired a majority stake of 70 percent in Kuwait-based toy e-commerce platform, Dabdoob.
The investment was completed through Jadwa E-commerce Opportunities Fund, the investment management firm said in a statement.
“Dabdoob’s management has demonstrated an exceptional ability to capitalize on important industry trends since the company’s establishment, and we look forward to contributing to Dabdoob’s next stage of growth through this partnership,” said Tariq Al-Sudairy, managing director and CEO of Jadwa Investment.
Founded in 2017, Dabdoob Holdings is one of the market leaders in Kuwait in the toys and gifts segment, with plans to expand in the Middle East and North Africa.
“With Jadwa’s like-minded partnership and full-backing, we are now keen to accelerate the implementation of our strategic initiatives and expansion plans across the wider MENA region,” said Dabdoob’s CEO, Mohammad Al-Hajeri.
