Titan Company Limited is set to acquire a 67% stake in Damas LLC from Mannai Corporation, enhancing its presence in the UAE's jewellery market.
Target Information
Damas LLC, headquartered in the UAE, stands as a leading player in the jewellery sector within the Gulf Cooperation Council (GCC) countries. Renowned for its exquisite designs and quality craftsmanship, Damas has established a significant market presence and brand loyalty over the years. The company offers a variety of jewellery products, including gold, diamond, and luxury accessories, catering to a diverse clientele.
This strategic acquisition marks a pivotal moment for Damas as it aims to expand its operations and capitalize on growth opportunities within the region by partnering with a well-established entity like Titan Company Limited.
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Industry Overview
The jewellery industry in the UAE is experiencing a robust growth trajectory, driven by increasing consumer spending, tourism, and a growing population. The GCC countries are characterized by a high demand for l
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Titan Company Limited
invested in
Damas LLC
in
in a Buyout deal
Disclosed details
Enterprise Value: $282M