• Al-Futtaim acquires a 49.95% stake in Cenomi Retail for SAR 2.52 billion at SAR 44 per share, following the signing of a Share Purchase Agreement, as announced on 20 July 2025. 
• Landmark foreign investment in a Saudi-listed retailer, fully aligned with Vision 2030 and private sector growth priorities  
• Strategic partnership to accelerate Cenomi Retail’s digital transformation, enhance operational capabilities, and expand market reach
• Cenomi Retail and Al-Futtaim entered into a shareholder loan facility agreement, pursuant to which Al-Futtaim will extend a SAR 1.35 billion shareholder loan facility to the company  

Riyadh, Saudi Arabia: Cenomi Retail, Saudi Arabia’s leading retail brand partner, today announced the completion of a share purchase transaction between a number of its substantial shareholders and Al-Futtaim. Pursuant to the transaction, Al-Futtaim has acquired a 49.95% stake in Cenomi Retail for a total consideration of SAR 2.52 billion, at SAR 44 per share. This transaction marks one of the largest foreign strategic investments in a Saudi-listed retail company, underscoring the Kingdom’s position as a premier global investment destination and a thriving hub for consumer-driven growth. Aligned with the goals of Saudi Vision 2030, the partnership supports key national priorities, including economic diversification, private sector development, and the transformation of the retail sector. 

Al-Futtaim’s entry as a strategic shareholder marks a major milestone in Cenomi Retail’s transformation, bringing global expertise, advanced digital capabilities, and operational excellence. The partnership will prioritize innovation, operational efficiency, and enhance customer engagement, while expanding distribution reach across the Kingdom. 

The transaction is expected to significantly strengthen Cenomi Retail’s capital structure and competitive positioning, laying a strong foundation for long-term, sustainable growth. The Board of Directors has expressed full confidence in Al-Futtaim’s vision and strategic alignment with Cenomi Retail’s ambitions. The partnership is also expected to unlock new career development opportunities for employees and foster a culture of innovation and performance. 

As part of the transaction, Al-Futtaim has agreed to extend a shareholder loan facility of SAR 1.35 billion to Cenomi Retail. This facility is intended, amongst other objectives, to further strengthen the Company’s balance sheet and enhance financial flexibility to support future expansion. The shareholder loan agreement incorporates a conversion option, granting Al-Futtaim the option to request the conversion of outstanding amounts under the agreement into equity in Cenomi Retail, subject the relevant parties' agreement on the conversion ratio (taking into account prevailing trading and market conditions), obtaining shareholder approvals and other applicable regulatory requirements. 

This feature signals Al-Futtaim’s long-term commitment and alignment with the Company’s growth trajectory, ensuring long-term shareholder value and business expansion.  

Salim Fakhouri, Chief Executive Officer of Cenomi Retail, said: “The entry of Al-Futtaim is a milestone in Cenomi Retail’s journey. This strategic partnership underscores the strength of our business model and positions the Company to deliver enhanced value, stronger competitiveness, and sustainable growth for all shareholders. The strategic partnership with Al-Futtaim’s marks a new era for Cenomi Retail. We will accelerate innovation, strengthen our operations, enhance our digital capabilities while broaden opportunities for our employees as we continue to redefine and elevate retail experiences across the Kingdom.” 

Wassim Arabi, President of Retail at Al-Futtaim, said: “The Kingdom of Saudi Arabia is one of the region’s most dynamic consumer markets, and this strategic partnership marks a pivotal step in Al-Futtaim’s long-term commitment to the Kingdom. By combining Cenomi Retail’s strong local presence with Al-Futtaim’s global retail expertise, we aim to unlock new growth opportunities, elevate store experiences, and accelerate digital transformation and omnichannel capabilities. Together, we will build a strong foundation for sustainable value creation that benefits customers, employees, and stakeholders alike fully aligned with the ambitions of Vision 2030.”  

The strategic partnership marks a new chapter for Cenomi Retail and Al-Futtaim, uniting the strengths of two leading regional players to unlock new growth opportunities, deliver long-term value to shareholders, and help shape the future of retail in Saudi Arabia. Both companies remain firmly committed to advancing the Kingdom’s Vision 2030 objectives by fostering innovation, empowering talent, and creating world-class customer experiences. 

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