Majid Al Futtaim acquires Géant franchise operator in the Middle East


June 29, 2017 | By RetailME Bureau

Dubai-based shopping mall developer and retail and leisure operator, Majid Al Futtaim, has announced the acquisition of Retail Arabia, the franchise owner of 26 Géant stores across the UAE, Bahrain and Kuwait as well as four Gulfmart supermarkets in Bahrain. The deal is agreed between Majid Al Futtaim and Retail Arabia’s parent company BMA International.

All of the acquired stores, which include hypermarkets, supermarkets and convenience stores, will be rebranded under Carrefour. It will see Carrefour extend its leading position in the UAE by increasing its store count from 67 to 80, while in Bahrain and Kuwait, it will further establish the brand as one of the largest grocery retail operators by increasing its stores to 11 and 8, respectively. Majid Al Futtaim has confirmed that all Retail Arabia’s employees will be retained following the acquisition and empowered to deliver Carrefour’s world-renowned customer experience.

“This acquisition is a significant milestone for Majid Al Futtaim, one which further cements Carrefour’s position as the largest and most successful grocery retailer in the region and beyond. We are open to further prospects, through both organic growth and opportunistic acquisitions, and will pursue these in line with our disciplined strategic and financial approach. Our ambition is to expand our physical as well as our digital presence, and reinforce our omnichannel offering,” says Alain Bejjani, CEO, Majid Al Futtaim – Holding.

“Carrefour is a brand already synonymous with quality, affordability, convenience and diligence to offer exceptional customer experience. By extending its reach, we will deliver these promises to more customers in more locations, while enhancing Majid Al Futtaim’s overall ability to fulfil its vision of creating great moments for everyone,” he adds.

Perella Weinberg Partners advised Majid Al Futtaim on the transaction.

 

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto




Download Images RetailME Magazine