Dubai’s GMG acquires Geant stores in UAE from Urban Foods in big push into F&B retail

Dubai’s GMG acquires Geant stores in UAE from Urban Foods in big push into F&B retail

Dubai: Dubai-based GMG - which owns and operates the Sun & Sand Sports stores - is making a run for the FMCG space too, by buying the supermarket chain Geant’s UAE operations. At the same time, GMG has also picked up the ‘exclusive rights’ to expand Geant operations in the Middle East. For GMG, the Geant store acquisition is part of a determined move to grow its base in the food retailing and processing business. The UAE operations of Geant, of French origin and a competitor to Carrefour, was earlier part of Urban Foods’ portfolio. It had recently opened the biggest Geant store in the UAE, at the new Dubai Hills Mall. Geant, part of Groupe Casino, has a turnover of 35 billion euros plus. Urban Foods is part of Dubai Holding’s diversified interests and had been operating 18 Giant locations in the UAE. Under the GMG stewardship, Geant will also bring in Groupe Casino’s other brands such as Franprix and Monoprix. According to Mohammad A. Baker, Deputy Chairman and CEO of GMG,"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