UAE - Mubasher: GMG, a company specialised in retailing, distributing, and manufacturing international and national brands, has acquired Géant's operations in the UAE to expand its businesses in the food retail category.

GMG acquired Géant’s retail business in the UAE from Urban Foods by Dubai Holding, including 18 hypermarket and supermarket locations, according to a press release on Tuesday.

As part of the transaction, GMG will have exclusive rights to expand Géant operations across the Middle East.

Géant is part of Groupe Casino, a French retailing group with a turnover of EUR 35 billion. 

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."

Meanwhile, Baker added: "Our acquisition comes at a time when the Middle East’s food economy is undergoing a major transformation. 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."