GMG acquires Geant UAE operations
Date
4/6/2022 10:58:47 PM
(MENAFN- The Arabian Post)
Arabian Post Staff
GMG, a global well-being company retailing, distributing and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors, has acquired Géant operations in the UAE and rights to expand Géant operations in the Middle East.
Géant is a part of Groupe Casino, a French retailing giant with a turnover in excess of EUR35 billion. GMG is acquiring Géant's current UAE retail footprint from Urban Foods by Dubai Holding. This 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 have exclusive rights to expand.
Last year, GMG announced the redesign of its business into four verticals: GMG Sports, GMG Food, GMG Health, and GMG Consumer Goods. The latest acquisition falls under the GMG Consumer Goods vertical, bringing the total workforce to over 700 employees. Meanwhile, GMG continues to grow its original food brands Farm Fresh and Klassic, as well as being a distributor for popular food brands such as McCain, Mama Sita's, and Shan.
The Géant deal follows another high-profile GMG retail acquisition of Royal Sporting House in 2020. Recently, GMG also acquired the rights to manage, distribute, and retail the Nike brand in Egypt and Iraq starting in Q3 2022, contributing to a diversified sports portfolio that already covers over 400 stores across the MENA region and Asia.
To date, GMG has introduced more than 120 brands into its markets. The company announced plans last year to double its global workforce by 2025 as part of a revitalized business strategy that reiterates its objectives to promote healthier and more active lifestyles.
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