Al Sudais Group acquires BDL Gulf FZCO
KSA-based conglomerate targets aggressive Gulf expansion plan
Kingdom of Saudi Arabia (KSA)-based conglomerate Al Sudais Group has acquired BDL Gulf FZCO, a subsidiary of KSA-headquartered IT distributor BDL Group for an undisclosed amount.
Following the deal, BDL Saudi Arabia with Prince Waleed bin Sa'oud as its chairman, will continue to operate as an independent entity from BDL Gulf FZCO headquartered in Dubai, which is now part of subsidiaries under Al Sudais Group of companies.
Al Sudais Group has named Khaled Osman as the new CEO for BDL Gulf, while Tamer Ismail former CEO at BDL Group will head BDL KSA in the same capacity.
According to Al Sudais Group, the merger with BDL Gulf paves the way for the company to continue its investments in the Middle East by diversifying into other industries as the group already has businesses in the agriculture, building materials and real estate segment.
Abdul Rahman Al Sudais, group CEO, Al Sudais Group, said the company will be injecting capital to support the vigorous geographical and vendor brands expansion for BDL Gulf. "We are pleased to have concluded this deal, which we believe will open new opportunities for the group to establish a strong footing in the IT and consumer electronics sector," Al Sudais added. "With the financial strength that we have in the group, it's only a matter of time before our Gulf operations emulates the success that other businesses within the group have seen in Saudi Arabia."
Osman said the group is delighted to have merged with BDL Gulf as this gives way for the group to continue making investments in sectors with low risk factors. "We decided to acquire BDL Group's Gulf operation because it was a perfect for what we were looking for," he said. "With this purchase, the company will be rolling out a comprehensive expansion programme that aims at growing and cementing BDL Gulf's status in the rest of the Gulf and UAE."
Osman added that BDL Gulf is coming back to start redistribution of traditional IT products in addition to the wholesale and trading of mobile devices. "We will be adding new IT brands to our portfolio as we want to have good penetration in different market segments including wholesale, retail, tradition reseller channels and IT trading," he said. "We have already started hammering out details of our gradual expansion initiative as we would like to see the company reignited the channel alliances that are mutually beneficial for the whole partner ecosystem.
He explained that following the conclusion of the deal, BDL Gulf has already met with the regional teams in Kuwait, Oman, Qatar, UAE and Jordan to ensure a smooth transition for employees, vendor and reseller partners.
Osama Mekawy, general manager, BDL Gulf FZCO, reiterated that this is an exciting period in the history of the company since it established its presence in Dubai and the rest of the Gulf. "We have an excellent distribution network, telecom business, our own brand Quantum and mobile trading business. Furthermore, we have embarked on a recruitment programme that will see us sign more brands in storage, networking, security and consumer products," Mekawy added.