UAE-based Mumzworld has signed a sales and purchase agreement with Saudi’s Tamer Group as part of an acquisition deal to hold a majority stake in the Middle East’s largest mother, baby, and child e-commerce platform.
The proposed transaction makes Mumzworld the first regional and homegrown e-commerce company acquired by a Saudi strategic giant like Tamer Group. It also becomes the first regional woman-led e-commerce transaction. The choice to partner with Tamer Group allows the company to continue to grow in key regional markets and expand its digital footprint.
“We are delighted to join the Tamer Group, having created the Middle East’s largest female-led ecommerce business. We have recorded 10x growth over the last five years, and this is just the beginning for us. We are better positioned than ever to accelerate growth, drive wider geographic expansion and continue to build a tech footprint serving customers better than ever,” said Mona Ataya, CEO of Mumzworld.
Tamer Group’s strong distribution, supply chain, and logistics will further help complement Mumzworld’s business operations. As part of the deal, Mumzworld will retain a high degree of autonomy – including retention of the entire Mumzworld management team and branding.
“We believe that e-commerce is the future for the GCC. As a major player in the FMCG space, e-commerce is no longer an option, but a necessity. The world has shifted to a customer-centric model with consumer behaviours, trends and data having become the new gold. Players in the space need to understand their customers, and adapt to their changing needs,” said Ayman Tamer, Chairman of Tamer Group.
The regional mother, child, and baby market is worth over US$10 billion, with the online segment growing approximately 39% per annum, yet online penetration remains in the single digits. A young population, strong birth rates, strong purchasing power, and highly digitised consumers with constantly growing e-commerce adoption is expected to drive the growth in the online segment, particularly in Saudi Arabia.
The proposed transaction is subject to formal regulatory clearance from the General Authority for Competition in Saudi Arabia.
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