Abu Dhabi, UAE; 12 June 2024: Omorfia Group, the beauty anchor majority owned by Multiply Group, the Abu Dhabi-based holding company that invests in and operates businesses globally, has successfully acquired 100% ownership of The Grooming Company Holding (TGCH), a premier provider of salon and beauty services in the UAE, from CedarBridge Capital Partners, the region’s leading private equity investor in consumer and beauty sectors.
This strategic move reinforces Omorfia Group's commitment to expanding its beauty services portfolio within the UAE and beyond, in alignment with its growth strategy centered around targeted bolt-on acquisitions.
TGCH represents a conglomerate spanning 47 owned and operated salons and 15 franchises totaling 62 locations across 5 countries, catering to both male and female clientele. The main brand portfolio consists of N.BAR, a network of 21 nail bars tailored for women; 1847, a distinguished grooming lounge concept catering to men across 16 locations; and Sisters Beauty Lounge, a luxury chain of multi-functional beauty lounges boasting 8 locations. Additionally, Wellbe Trading, a subsidiary of TGCH, serves as the exclusive distributor of high-end beauty products to TGCH and other salons across the GCC.
With an annual customer base exceeding 120,000, this acquisition solidifies Omorfia Group’s leadership position in the GCC and MENA beauty sector, boasting a combined network of 132 owned and operated salons across five key geographies.
Post transaction, Omorfia Group will expand its footprint in existing markets across GCC and the MENA region through organic expansion across all brands and strategic partnerships globally.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: “This transaction under Omorfia’s portfolio supports its ambition to establish a dominant beauty services platform, featuring well-run, profitable and cash-generating beauty brands. This cements our position as a leading beauty player, while helping us drive sustainable growth and deliver exceptional value to our shareholders and customers alike.”
Faris Suhail Al Yabhouni Al Dhaheri, Group CEO and Managing Director of Omorfia Group, added: “This partnership offers a unique opportunity to synergize our operational capabilities, leverage our collective expertise to enhance service quality, and diversify our offerings to resonate with a broader spectrum of customers. By strategically aligning our goals and resources, we are poised to capitalize on market opportunities and drive sustainable growth while upholding our unwavering commitment to delivering unparalleled service excellence. Our dedication to innovation and customer-centricity will remain steadfast as we navigate this exciting chapter of strategic partnership and expansion."
Vincenzo Minore, Group CEO of the Grooming Company Holding, stated: “Omorfia Group, with its strong presence and proven track record in the beauty and wellness sector, is the ideal partner for TGCH in its next phase of growth. I personally want to thank the CedarBridge for their mentorship and stewardship during the past 5 years, and the TGCH team for their efforts in making TGCH a recognized global brand.”
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