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.
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.
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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.
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