GMG Acquires UAE Operations of French Retailing Group Géant
GMG, a global well-being company retailing, distributing and manufacturing a portfolio of international and home-grown brands has announced its foray into the food retail business with the acquisition of the UAE operations of the French retailing major Géant. Under a strategic pact with Urban Foods by Dubai Holding, GMG has acquired Géant’s current UAE retail […]
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GMG, a global well-being company retailing, distributing and manufacturing a portfolio of international and home-grown brands has announced its foray into the food retail business with the acquisition of the UAE operations of the French retailing major Géant.
Under a strategic pact with Urban Foods by Dubai Holding, GMG has acquired Géant’s current UAE retail footprint comprising a total of 18 hypermarket and supermarket locations across the country.
It also includes the new openings featuring some of Groupe Casino’s other brands such as Franprix and Monoprix, to which GMG will also have exclusive rights to expand, it added.
Deputy Chairman and CEO Mohammad A. Baker said: “This acquisition is a milestone in our history as we venture into the food retail category. In doing so, we are able to cover the entire consumer journey from food manufacturing and distributing to retail.”
“Moreover, the diverse portfolio of Groupe Casino’s supermarket brands will allow us to cater to all categories of consumers, from the price-conscious to those desiring more premium and speciality products.”
“Consumer preference has shifted to locally-sourced food items and sustainable food options, while governments are simultaneously exploring ways to enhance food safety and promote food security in line with their national development visions. In the coming years, our intention is to cover the entire food consumption chain from farm to fork,” he added.
