Tamimi Markets Acquires Al Raya Supermarkets
Tamimi Markets has been operating in Saudi Arabia since 1979.
Saudi Arabia’s family-owned grocery chain, Tamimi Markets Company, has finalized the acquisition of Al Raya for Foodstuffs Company.[1]
Tamimi Markets has been operating in Saudi Arabia since 1979. With this acquisition, Tamimi's portfolio has grown to 111 outlets.
Founded in 1991, Al Raya boasts a substantial presence across Saudi Arabia, with 51 stores strategically located in over 20 cities spanning the Northwest, West, and Southwest regions of the kingdom.
The acquisition will enhance the company's scale and capabilities, particularly in its western operations, driving forward its nationwide growth strategy.
In June, Saudi Arabia's Public Investment Fund (PIF) secured a 30% stake in Tamimi Markets.[2]
The PIF owns a number of notable ventures in the retail and consumer products industries, including Americana Restaurants International PLC, Halal Products Development Company, and Noon.com, the top Middle Eastern online marketplace.