BinDawood Holding buys Zahrat Al Rawdah Pharmacies for SAR 444M

01/11/2024 Argaam
Logo ofBinDawood Holding Co.

Logo of BinDawood Holding Co.

BinDawood Holding Co. acquired Zahrat Al Rawdah Pharmacies LLC, a chain owned by the UAE’s Gulf Pharmaceutical Industries (Julphar) for SAR 444.1 million.

 

In a statement, Julphar said that its wholly owned subsidiary in Saudi Arabia manages 173 pharmacies of Zahrat Al Rawdah.

 

For more news and details on M&As

 

The Saudi subsidiary logged SAR 367.9 million in revenues and a net income of SAR 16.7 million in 2023.

 

CEO Abdulrazzaq BinDawood said that this acquisition is an important step to enhance the company’s presence in the healthcare sector by integrating pharmacy services into its activities.

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