Abu Dhabi-based technology-focused investment holding company Multiply Group PJSC said its unit Omorfia Group has acquired The Juice Spa and Salon as it looks to grow its beauty business through bolt-on investments.
Following the acquisition, the brand is projected to generate a revenue of 29 million dirhams ($7.9 million), Multiply said in a disclosure on Monday on the Abu Dhabi Securities Exchange where its shares trade.
It did not disclose a value for the acquisition.
The acquisition comprises multiple legal entities, namely The Juice Beauty Salon, Juice Spa Salon, Juice Lounge Spa And Beauty Center, Jamm Salon Supplies, Atelier Hommage Mens Salon L.L.C, and Acumen Int. Limited (Hommage).
Faris Al Dhaheri, CEO and Managing Director of Omorfia Group said: “The integration of The Juice Spa and Salon into our portfolio is a strategic milestone. It not only amplifies our growth trajectory but also underscores our commitment to becoming a dominant player in the Middle East’s beauty industry.”
Omorfia Group owns brands such as Tips and Toes, Bedashing, Jazz Lounge Spa, and Fisio.
(Writing by Brinda Darasha; editing by Seban Scaria)