GMG is striking a bold move into the food retail category with the acquisition of Géant operations in the UAE and exclusive rights to expand Géant operations in the Middle East.
In 2021, GMG announced the redesign of its business into four verticals: GMG Sports, GMG Food, GMG Health, and GMG Consumer Goods. The Géant acquisition falls under the consumer goods vertical and will bring the firm’s total workforce to more than 700 employees
The acquisition will include a total of 18 hypermarket and supermarket locations across the UAE, with the new openings featuring some of Groupe Casino’s other brands such as Franprix and Monoprix, to which GMG will also gain exclusive expansion rights.
The Deputy Chairman and CEO of GMG, 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 specialty products.”
