Riyadh, Saudi Arabia — Al‑Futtaim Retail has agreed to acquire a 49.95% stake in Cenomi Retail for SAR 2.522 billion, according to a statement on Tadawul. The deal includes shares held by Fawaz Abdulaziz Alhokair, Abdulmajeed and Salman bin Abdulaziz Alhokair, FAS Saudi Holding, and FAS Real Estate. Following board approval, the acquisition now awaits regulatory clearance. Additionally, Al‑Futtaim will extend a shareholder loan of at least SAR 1.3 billion to support Cenomi’s next growth phase.

Al‑Futtaim Cenomi Acquisition: Structure and Transaction Terms

The agreement will transfer approximately 57.326 million shares—representing 49.95% of Cenomi’s capital—to Al‑Futtaim Retail at SAR 44 per share. This private, negotiated transaction complies with Tadawul’s protocols, remains subject to regulatory approvals, and requires no-objection certificates.

A key part of the deal is a shareholder loan. Al‑Futtaim will provide at least SAR 1.3 billion upon completion. This equity-backed loan is intended to strengthen Cenomi’s financial position and support its expansion across the fashion and retail sectors.

Strategic Value: Franchise Partnerships and Retail Growth

Al‑Futtaim, a leading franchise operator in Saudi Arabia, has rights to several global brands. Cenomi is expected to expand its market presence and diversify its offerings through this acquisition. Moreover, the partnership supports broader retail investment trends in the Kingdom and aligns with major franchise growth strategies.

 

 

THE SAUDI STANDARD’S VIEW: Cenomi-Al‑Futtaim Deal Signals Strategic Maturity in Saudi Retail Sector

The SAR 2.5 billion acquisition—paired with a SAR 1.3 billion shareholder loan—marks a pivotal moment for Saudi Arabia’s retail sector. It illustrates investor confidence and the country’s growing capital market sophistication under Vision 2030.

  • Structured foreign partnerships signal increased trust in Saudi governance and retail potential. This private deal, executed within Tadawul’s regulatory framework, showcases institutional transparency.
  • The shareholder loan structure goes beyond equity investment. It gives Cenomi the financial flexibility to strengthen operations and pursue its transformation agenda.
  • Al‑Futtaim’s retail portfolio brings scale and expertise to Cenomi. The partnership improves brand positioning, customer experience, and innovation—all key Vision 2030 priorities.
  • Long-term strategic ownership confirms that Saudi retail assets attract more than speculative capital. Investors now view the sector as a stable platform for sustained growth.

Al‑Futtaim Cenomi acquisition supports Riyadh’s emergence as a regional retail hub and reaffirms its trajectory as a global destination for consumer brands, underpinned by regulatory clarity, strategic investment, and market depth.

 

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