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United Pharmacies Group announced the signing of a final acquisition agreement to acquire 100% of Konoz Pharmacies, owned by the International Health & Beauty Company, a subsidiary of Mohammed Al Habib Holding. The transaction value exceeds SAR 100 million and represents a strategic step that strengthens United Pharmacies’ position as one of the fastest-growing players in Saudi Arabia’s pharmacy retail sector.

The acquisition aligns with the vision of the Group’s Founder and Owner, Mohammed bin Abdulrahim Al Yassin, to build a leading national entity in pharmaceutical retail through strategic expansion, operational efficiency, and sustainable value creation.

A Pivotal Milestone in the Expansion Journey

The Chief Executive Officer, Khaled Mohammed Abdulrahim Yassin, stated that the acquisition represents a key milestone in the Group’s growth strategy, aimed at increasing market share, expanding geographic presence, enhancing operational efficiency, and improving customer experience, thereby supporting long-term growth.

For his part, the Chief Financial Officer, Mohammed Abdelwahab Al Morsi, noted that the transaction reflects the Group’s strong financial position and its ability to execute well-structured, high-quality acquisitions that generate sustainable returns and enhance shareholder value.

Upcoming Investment Expansion

Ahmed Ghazi, Vice President of Investment, added that the Group is currently evaluating additional investment opportunities in the healthcare sector, with the objective of diversifying its portfolio through further acquisitions and capitalizing on growth opportunities in the Saudi market, driven by rising demand for healthcare services and the continued expansion of pharmaceutical retail.

Completion of the transaction remains subject to the fulfillment of regulatory requirements and the receipt of all necessary approvals from the relevant authorities, in accordance with applicable regulations.