Scent-sational Acquisition

Scent-sational Acquisition

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  • Saudi private equity firm Jadwa Investment has acquired a 35% stake in Gissah Perfumes, a fragrance company, as part of its preparations for an IPO. The investment has been made through Jadwa's Retail Opportunities Fund and is intended to bolster Gissah's market position and overall business performance.
  • Gissah Perfumes, initially founded in Kuwait, is planning to relocate to Saudi Arabia in advance of its IPO on the country's primary market. Currently, the company operates across 80 stores in 25 cities spanning Saudi Arabia, Kuwait, the UAE, and Bahrain. Jadwa Investment, which manages approximately $20 billion in client assets, is strategizing to allocate around $532 million towards new private equity ventures and to list shares of three companies from its portfolio by 2025.

Why it matters

In a prior report from December, Bloomberg News revealed Jadwa's intentions to divest a 30% stake in Saudi Aramco Base Oil, a refining division of the state-owned oil company, Saudi Aramco.


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