Abu dhabi: Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally, today completed its first major investment in Europe with the acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share. The deal doubles Multiply's operational EBITDA post-consolidation and expands its model to acquire standout businesses, unlock potential through capital and tech, and deliver sustained market leadership.

According to BERNAMA News Agency, Tendam is one of Europe's leading omnichannel apparel groups, operating more than 1,800 points of sale and running successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America. This positions the company well in the evolving retail landscape. From affordable fashion to premium styles, Tendam's diversified portfolio of 12 established brands caters to multiple customer segments through its leading fashion brands such as Women'secret, Springfield, Cortefiel, and Pedro del Hierro, among others.