Tamimi Markets Company completes acquisition of Al Raya
Tamimi Markets Company has successfully completed its takeover of Al Raya For Food Stuffs Company JSC, acquiring 100% of the leading supermarket chain, which has a strong presence in Western Saudi Arabia.
This move is in line with Tamimi's ambitions for national expansion and consolidates its presence in the region.
The acquisition allows Tamimi to build on Al Raya's reputation for convenience, fresh offerings, and quality bakeries. Bobby Rajendran, CEO of Tamimi Markets, is keen to enhance Al Raya's value and promote its growth.
Al Raya, with its network of 51 supermarkets across key cities in Saudi Arabia, boosts Tamimi's reach. Since its first store in Jeddah in 1991, Al Raya has established itself as a significant player in the region.
Levant Capital took a 75% ownership in Al Raya in 2012, doubling the brand's locations to 51 stores and increasing retail space by 150% during its investment period, illustrating significant growth and development.
The acquisition allows Tamimi to build on Al Raya's reputation for convenience, fresh offerings, and quality bakeries. Bobby Rajendran, CEO of Tamimi Markets, is keen to enhance Al Raya's value and promote its growth.
Al Raya, with its network of 51 supermarkets across key cities in Saudi Arabia, boosts Tamimi's reach. Since its first store in Jeddah in 1991, Al Raya has established itself as a significant player in the region.
Levant Capital took a 75% ownership in Al Raya in 2012, doubling the brand's locations to 51 stores and increasing retail space by 150% during its investment period, illustrating significant growth and development.
