Deal Description: On 13 February 2024, Tamimi Markets Company (“Tamimi”), a Saudi family supermarket business, successfully completed its acquisition of 100% of Al Raya For Food Stuffs Company JSC (“Al Raya”), a leading supermarket chain operating along the Western half of the Kingdom of Saudi Arabia.

The transaction aligns with Tamimi’s national growth strategy and further strengthens its position in the Western region of Saudi Arabia. By acquiring Al Raya, Tamimi looks to leverage the combined strengths of both companies while serving new customers in multiple markets. 

Bobby Rajendran, CEO of Tamimi commented: "With the assistance of our esteemed legal partners at Baker Botts, Tamimi is proud to announce the successful acquisition of Al Raya. This strategic milestone not only strengthens our position in the Kingdom's retail landscape but also reflects our unwavering commitment to growth and innovation. We are excited for the opportunities this acquisition presents as we continue to serve our valued customers across Saudi Arabia." 

Omar Iqbal, partner at Baker Botts, said, “The Baker Botts team is honored to have been able to advise Tamimi, one of the fastest-growing supermarket chains in Saudi Arabia, on this transaction and in supporting Tamimi’s expansion into new markets.”

The Law Office of Mohanned bin Saud Al-Rasheed In Association with Baker Botts L.L.P. represented Tamimi as its legal counsel and anb capital acted as Tamimi’s sole financial advisor on this transaction.
 
The Riyadh and Dubai based Baker Botts team was led by corporate partner Omar Iqbal, supported by senior associates Rakan Alyusuf and Neil Williams, and associates Nabeel Sarwar, Adam Ismail and Hessa AlAqeel. 

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