Tawazun acquires Caracal International, enters new market

Under the terms of the acquisition agreement, Tawazun will own Caracal's assets and subsidiaries, including the German gun-maker Merkel which has production lines in Germany and the United States, as well as a distribution network in all over Europe and America.
Tawazun will retain Caracal's operations and management team.

"We are very pleased about this acquisition, and we welcome Caracal staff and customers to Tawazun. Together, we will offer promising opportunities in small arms manufacturing," said Mohamed Saif Al Mazrouei, Chief Executive Officer of the OPB.

"Through this acquisition, Tawazun will consolidate its position as a leader in the field of industrial and commercial investment. It is part of the company's strategy to enter new markets and to create viable strategic partnerships that will add value to the UAE economy," he added.

Tawazun seeks to pursue a targeted acquisition strategy to grow its capabilities and to efficiently acquire, integrate, and introduce new products and service offerings into the UAE markets and beyond.

"This acquisition will further strengthen Tawazun's portfolio and facilitate its progression into becoming a premier investment company and a partner of choice to industry leaders, both locally and abroad," commented Saif Mohammed Al Hajeri, Director of the Offset Ventures Unit at the OPB.

"Caracal is certain to benefit from its new position within the Tawazun holdings. I believe that our company's successful beginning will now be taken to the next level via this excellent collaboration. Caracal's employees and associates are delighted with Tawazun's strategy," said Hamad Al Neyadi, Managing Director of Caracal.