Latest news with #Multiply
Arabian Post
4 days ago
- Business
- Arabian Post
Multiply Group Completes Major Stake Purchase in Tendam
Abu Dhabi-based Multiply Group has concluded the acquisition of a 67.91% majority stake in Spanish fashion retailer Tendam, valued at AED 5.6 billion. This move marks a significant leap into the European retail market for the UAE-listed conglomerate, solidifying its position in the global apparel industry. The deal with Tendam, which operates several prominent fashion brands including Cortefiel, Pedro del Hierro, and Springfield, will elevate Multiply Group's international presence. Tendam is an established player in the omnichannel retail space, combining physical stores with an increasingly sophisticated digital sales infrastructure, which positions the company as a strong contender in the fast-evolving European fashion market. Multiply Group's entry into this space is seen as part of a broader strategy to diversify its portfolio and tap into lucrative international markets. Samia Bouazza, the Group CEO and Managing Director of Multiply Group, highlighted the strategic nature of the acquisition. She noted that by securing control over a leading omnichannel business, Multiply is embracing a forward-thinking business model that is not only resilient but also adaptable to changing market conditions. ADVERTISEMENT The acquisition comes at a time when global retail trends are shifting towards an integrated, omnichannel approach, allowing companies to reach consumers across both physical and digital platforms. Tendam's long-standing expertise in this area makes the company an attractive investment for Multiply Group as it seeks to expand its footprint in Europe. Analysts suggest that the acquisition will bolster Multiply's operational EBITDA, driving growth in the firm's retail segment. Multiply Group, which has made waves in sectors ranging from technology to entertainment, views the purchase as a step towards achieving its long-term growth objectives. The acquisition is expected to provide significant synergies across Multiply's existing portfolio, with the potential to scale Tendam's brands across different European regions and beyond. The move also indicates Multiply Group's growing focus on consumer-facing businesses, which is a departure from its traditional concentration on investments in industrial and commercial sectors. By diversifying into the fashion industry, the group is positioning itself to benefit from the continued shift in consumer behaviour, where e-commerce and digital sales channels are becoming dominant drivers of growth. Industry experts believe the timing of the acquisition is particularly strategic. With the fashion industry adapting to evolving consumer preferences—especially in terms of sustainability and technological integration—the future of retail is poised for transformation. Tendam's strong digital presence, combined with its established retail stores, provides a balanced model that can better withstand economic fluctuations, making it an attractive proposition for investors. The deal strengthens Multiply Group's ties to the European market, offering more opportunities to collaborate with local businesses and expand its network of strategic partnerships. The UAE's growing influence in global investment circles, particularly in retail and fashion, is highlighted by this acquisition, which is expected to attract additional attention from global investors looking to enter the region.
Mid East Info
5 days ago
- Business
- Mid East Info
Multiply Group Completes Acquisition of Tendam, Doubling Operational EBITDA and Expanding Global Footprint - Middle East Business News and Information
Tendam is Spain's second-largest apparel group by market share and one of Europe's leading omnichannel apparel groups. Tendam's 12 well-established owned fashion brands offer diversity and international exposure, further deepening the Group's presence in consumer-focused industries. The transaction, valued at AED 5.6 billion (€ 1.3 billion) enterprise value, positions Multiply Group as a key player in the global Retail & Apparel landscape. Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally, today completed its first major investment in Europe with the acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share. The deal doubles Multiply's operational EBITDA post-consolidation and expands its model to acquire standout businesses, unlock potential through capital and tech, and deliver sustained market leadership. As one of Europe's leading omnichannel apparel groups, Tendam operates more than 1,800 points of sale and runs successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America, making it well-positioned in the evolving retail landscape. From affordable fashion to premium styles, the company's diversified portfolio of 12 established brands caters to multiple customer segments through its leading fashion brands such as Women'secret, Springfield, Cortefiel and Pedro del Hierro, among others. Multiply now has a majority interest of 67.91% in Castellano Investments S.À R.L. ('Company') (the owner of Tendam Brands S.A.U. and other subsidiaries), with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders. With this investment, Multiply Group deepens its investments in consumer-focused industries and establishes a presence in the retail and apparel sector, with Tendam becoming a platform business under Multiply's Retail & Apparel vertical. Multiply will lead the next growth phase of Tendam. This growth is predicated on further international expansion across Europe, Latin America, and the Middle East. Embedding AI across all aspects of the business, from sourcing to customer operations, will support this growth journey and will leverage the digital infrastructure the company already has in place. In addition, Multiply will support the business on targeted M&A to introduce new brands and categories. Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: 'This acquisition marks Multiply Group's strategic entry into the retail and apparel sector. By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team. Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, deploying AI, and driving strategic M&A, we are poised to accelerate growth and unlock long-term value for our shareholders.' From a strategic standpoint, the acquisition offers Multiply Group a significant opportunity to leverage Tendam's strong brand platform and proven performance to drive future growth, supported by favourable consumer tailwinds in the global apparel retail market. Jaume Miquel, Chairman and CEO of Tendam, highlighted: 'Today we are starting a new era. Together, shareholders and management team, will fully deploy the Tendam potential, extending our brands to new formats, markets and channels supported by advanced artificial intelligence and digital technology, delivering stronger growth and profitability through a unique, unrivalled omnichannel brand ecosystem.' Since 2020, driven by its proven management team, Tendam has recorded steady, quarter-on-quarter growth, strengthening its business model in core markets while expanding its international presence. At the end of June 2025, the company reported last twelve months sales of €1.4 billion and EBITDA post-IFRS 16 of €340.7 million. Multiply Group has been advised by Greenhill (a Mizuho affiliate), Hogan Lovells and KPMG on the transaction. Castellano and its current shareholders have been advised by Uria Menendez. Ramón Hermosilla Abogados and Latham & Watkins LLP were legal advisors to Tendam on this transaction. The acquisition of Tendam's businesses in Bosnia and Herzegovina will not become effective until it is authorised by the relevant competition authority, which is expected to be received shortly.
Web Release
6 days ago
- Business
- Web Release
Multiply Group Completes Acquisition of Tendam, Doubling Operational EBITDA and Expanding Global Footprint
Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally, today completed its first major investment in Europe with the acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share[1]. The deal doubles Multiply's operational EBITDA post-consolidation and expands its model to acquire standout businesses, unlock potential through capital and tech, and deliver sustained market leadership. As one of Europe's leading omnichannel apparel groups, Tendam operates more than 1,800 points of sale and runs successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America, making it well-positioned in the evolving retail landscape. From affordable fashion to premium styles, the company's diversified portfolio of 12 established brands caters to multiple customer segments through its leading fashion brands such as Women'secret, Springfield, Cortefiel and Pedro del Hierro, among others. Multiply now has a majority interest of 67.91% in Castellano Investments S.À R.L. ('Company') (the owner of Tendam Brands S.A.U. and other subsidiaries), with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders. With this investment, Multiply Group deepens its investments in consumer-focused industries and establishes a presence in the retail and apparel sector, with Tendam becoming a platform business under Multiply's Retail & Apparel vertical. Multiply will lead the next growth phase of Tendam. This growth is predicated on further international expansion across Europe, Latin America, and the Middle East. Embedding AI across all aspects of the business, from sourcing to customer operations, will support this growth journey and will leverage the digital infrastructure the company already has in place. In addition, Multiply will support the business on targeted M&A to introduce new brands and categories. Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: 'This acquisition marks Multiply Group's strategic entry into the retail and apparel sector. By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team. Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, deploying AI, and driving strategic M&A, we are poised to accelerate growth and unlock long-term value for our shareholders.' From a strategic standpoint, the acquisition offers Multiply Group a significant opportunity to leverage Tendam's strong brand platform and proven performance to drive future growth, supported by favourable consumer tailwinds in the global apparel retail market. Jaume Miquel, Chairman and CEO of Tendam, highlighted: 'Today we are starting a new era. Together, shareholders and management team, will fully deploy the Tendam potential, extending our brands to new formats, markets and channels supported by advanced artificial intelligence and digital technology, delivering stronger growth and profitability through a unique, unrivalled omnichannel brand ecosystem.' Since 2020, driven by its proven management team, Tendam has recorded steady, quarter-on-quarter growth, strengthening its business model in core markets while expanding its international presence. At the end of June 2025, the company reported last twelve months sales of €1.4 billion and EBITDA post-IFRS 16 of €340.7 million. Multiply Group has been advised by Greenhill (a Mizuho affiliate), Hogan Lovells and KPMG on the transaction. Castellano and its current shareholders have been advised by Uria Menendez. Ramón Hermosilla Abogados and Latham & Watkins LLP were legal advisors to Tendam on this transaction. [1] The acquisition of Tendam's businesses in Bosnia and Herzegovina will not become effective until it is authorised by the relevant competition authority, which is expected to be received shortly.
Barnama
6 days ago
- Business
- Barnama
Multiply Group Makes Bold Leap Into Europe With 1.3 Bln Euros Acquisition Of Spain's Tendam
BUSINESS KUALA LUMPUR, July 24 (Bernama) -- In a landmark European entry, Abu Dhabi's Multiply Group has acquired a 67.91 per cent majority stake in Tendam, Spain's second-largest apparel company, in a transaction valued at 5.6 billion UAE dirhams (1.3 billion euros) enterprise value. (1 Euro = RM4.95) According to Multiply in a statement, the deal cements the group's position as a rising force in the global Retail & Apparel space and doubles its operational earnings before interest, taxes, depreciation, and amortisation (EBITDA) post-consolidation. Multiply now has a majority interest in Castellano Investments S.À R.L. (the owner of Tendam Brands S.A.U. and other subsidiaries), with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders. Multiply Group Chief Executive Officer (CEO) and Managing Director, Samia Bouazza called the deal a "strategic entry" into a high-performing sector, noting the platform's potential to scale globally through technology, brand agility, and Multiply's expertise in value creation. Meanwhile, Tendam Chairman and CEO, Jaume Miquel echoed the optimism, hailing the start of a 'new era' that will unlock greater brand potential and profitability through digital innovation. The investment positions Tendam as the cornerstone of Multiply Group's new Retail & Apparel vertical, giving the group a strategic springboard for international expansion, especially across Europe, Latin America, and the Middle East. Multiply aims to embed artificial intelligence (AI) across Tendam's operations—from supply chain to customer experience—while exploring targeted mergers and acquisitions (M&A) to grow its brand universe. Tendam, an omnichannel retail powerhouse with over 1,800 outlets and digital reach across more than 80 markets, brings a diverse fashion portfolio including Women'secret, Springfield, Cortefiel, and Pedro del Hierro. Its market footprint spans Spain, Portugal, France, the United Arab Emirates (UAE), and Latin America. The transaction saw advice from top firms including Greenhill, Hogan Lovells, and KPMG for Multiply; Uria Menendez for Castellano; and Ramón Hermosilla Abogados and Latham & Watkins LLP for Tendam.
Al Etihad
6 days ago
- Business
- Al Etihad
Multiply Group completes its first major investment in Europe
23 July 2025 21:49 ABU DHABI (ALETIHAD)Multiply Group has announced the successful completion of its acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share. In a press release, the Abu Dhabi-based group said the deal, valued at Dh5.6 billion (€1.3 billion), marks the Multiply's first major European investment and significantly expands its footprint in the global retail and apparel this acquisition, Multiply now owns 67.91% of Castellano Investments S.À R.L., the holding company for Tendam Brands S.A.U. and its subsidiaries. The remaining shares are retained by CVC Funds and PAI Partners through their corporate vehicles Llano Holdings and Arcadian one of Europe's leading omnichannel apparel retailers, operates more than 1,800 points of sale across over 80 markets, including Spain, France, Portugal, the UAE, and Latin America. Its portfolio includes 12 diverse fashion brands such as Women'secret, Springfield, Cortefiel, and Pedro del Hierro, catering to a wide range of consumer transaction is expected to double Multiply Group's operational EBITDA and significantly deepen its exposure to consumer-focused industries. Tendam will now serve as the platform business for Multiply's Retail & Apparel on the acquisition, Samia Bouazza, Group CEO and Managing Director of Multiply Group, said:'This acquisition marks Multiply Group's strategic entry into the retail and apparel sector. By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team.'She added, 'Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, deploying AI, and driving strategic M&A, we are poised to accelerate growth and unlock long-term value for our shareholders.'Multiply plans to drive Tendam's next phase of growth through further international expansion across Europe, Latin America, and the Middle East, and by embedding artificial intelligence into all areas of operations—from sourcing to customer engagement. It also intends to support targeted acquisitions to introduce new brands and Miquel, Chairman and CEO of Tendam, welcomed the new phase of growth, stating: 'Today we are starting a new era. Together, shareholders and management team will fully deploy the Tendam potential, extending our brands to new formats, markets and channels supported by advanced artificial intelligence and digital technology.' Tendam ended June 2025 with trailing 12-month sales of €1.4 billion and EBITDA post-IFRS 16 of €340.7 million, following steady growth since 2020 under a strong management team.
