By Reuters
Published on
DUBAI - Dubai retailer GMG said on Tuesday it had acquired the United Arab Emirates' operations of French supermarket chain Géant from a company owned by Dubai Holding, of Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum.
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GMG said it also acquired the rights to expand Géant's operations in the Middle East as part of the deal from Urban Foods, a grocery and household retail supermarkets and hypermarkets company.
GMG, which operates pharmacies, nutrition stores, and sports equipment and apparel stores, did not disclose the value of the deal, but said the acquisition marks its first entry into food retailing.
