Al-Futtaim, a prominent regional retail group, has acquired a 49.95% shareholding in Cenomi Retail, one of Saudi Arabia’s leading retail operators, in a deal valued at SAR 2.52 billion (USD 686 million), priced at SAR 44 per share.
The acquisition represents one of the largest foreign strategic investments in a publicly listed Saudi retailer, reinforcing the Kingdom’s status as a prime global investment destination and a dynamic centre for consumer-led growth, according to a statement.
In line with Saudi Vision 2030, the collaboration advances national priorities such as economic diversification, private sector development, and the modernisation of the retail sector.
Al-Futtaim’s role as a strategic shareholder signals a significant step in Cenomi Retail’s transformation, contributing international expertise, advanced digital capabilities, and operational excellence. The alliance will focus on driving innovation, improving efficiency, and enhancing customer experience, while broadening distribution across the Kingdom.
The transaction is set to reinforce Cenomi Retail’s capital structure and strengthen its competitive edge, providing a strong platform for sustainable long-term growth. The Board has expressed full confidence in Al-Futtaim’s strategic vision and alignment with Cenomi Retail’s goals. The partnership is also expected to generate new career opportunities, support employee development, and promote a culture of innovation and performance, the statement added.
