RIYADH: Saudi Arabia’s Jadwa Investment announced on Wednesday that it has acquired a 35 percent equity stake in one of the Gulf region’s fastest-growing fragrance companies.
Jadwa’s acquisition of Kuwait’s Gissah Perfumes Co. took place through its private equity arm, Jadwa Retail Opportunities Fund, the companies disclosed in a joint statement on Wednesday.
As one of the Kingdom’s leading privately owned investment banks, Jadwa prepares to unlock the fragrance company’s next growth phase.
“This partnership represents a new chapter for Gissah, as it will enable us to continue to build on our growth momentum, advance our corporate journey and prepare the company for public listing on the Saudi Stock Exchange,” said Faisal Al-Shayji, chairman of Gissah.
The timeline for Gissah’s planned listing on the Kingdom’s stock exchange and the value of the investment have not been yet disclosed.
Launched in 2018, Gissah grew rapidly with 80 stories in 25 cities across Saudi Arabia, Kuwait, the UAE and Bahrain.
Elie El-Khoury, head of private equity at Jadwa Investment, said: “Gissah is rising star in the GCC’s perfume sector.”
