Dubai PR Network, Online Press Release from Dubai and Middle East
 
Mall, Retail & Hospitality(Real Estate & Retail)
Filter PR by
  
Majid Al Futtaim Acquires Retail Arabia, Franchise Owner of Geant in the Middle East
 
Majid Al Futtaim Acquires Retail Arabia, Franchise Owner of Geant in the Middle East
  • Acquisition includes 26 Geant hypermarkets and supermarkets in UAE, Kuwait and Bahrain as well as four Gulfmart supermarkets in Bahrain 
  • Purchase in line with the company’s ambition to consolidate the Carrefour brand’s leadership position in the region
Dubai, UAE, 29 June, 2017: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has announced the acquisition of Retail Arabia, the franchise owner of 26 Geant stores across the United Arab Emirates, Bahrain and Kuwait as well as four Gulfmart supermarkets in Bahrain. The deal has been 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. This 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.
 
Alain Bejjani, Chief Executive Officer at Majid Al Futtaim – Holding, commented: “This acquisition is a major 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 omni-channel offering.”
 
Bejjani added: “Carrefour is a brand already synonymous with quality, affordability convenience and a 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, everyday.” 
 
Majid Al Futtaim was advised by Perella Weinberg Partners on the transaction.


Posted by : Dubai PR Network Editorial Team
Viewed 12029 times
PR Category : Real Estate & Retail
Posted on : Thursday, June 29, 2017  11:30:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Hotelier Summit Africa (North) to Serve as a Magnet for Hosp...
Next Story : Race to get amazing deals at Stadium
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
MAC - Hyper Real Glow [21393-Views]
Celebrate Life and Love with Mouawad Jewelry [21167-Views]
Mother's Day Gift Guide 2018 For All The Super Mums In Your Life [20588-Views]
M∙A∙C Mineralize Total Detox [20331-Views]
Introducing Vitabrid C12, a brand-new, proprietary form of active Vitamin C being used for... [19563-Views]
Skin Republic Launches Monthly Treatment Packs [19056-Views]
A Gift for Everyone on SOUQ.com's Valentine's Day Gift Shop [17562-Views]
Jazeera Airways announces FY2017 financial results [17550-Views]
Skyline University College Organized One-Day Refresher Course in Management for Government... [16128-Views]
5 things to know about collagen [12725-Views]
Fresh Hair in an Instant with SHOW Beauty [12084-Views]
Regulator Classic celebrates the special moment [12005-Views]
LACOSTE Presents 12.12 Chronograph 85th Anniversary Edition [11804-Views]
Decorate the home with United Furniture for the month of love [11261-Views]
PUMA and Sahntell Martin Unveil Debut Collection [10218-Views]
Women's Week Promises World Class Tennis – Tickets Only 55dhs [9681-Views]
Amadeo® Fleurier 39 “Fan” [9412-Views]
Show/Pop-up Event “Pret-A-Cover™ Buyers Lane” to Be Launched in Dubai From March 28th to A... [8644-Views]
Italian Food Lab at Gulfood Celebrates Italy's Culinary Heritage and Highlights the Import... [8339-Views]
Mother's Day Gift Guide 2018 from The Little Birdy Group [8046-Views]
True Colours [8046-Views]
Robinsons Honored for Outstanding Store Design [8034-Views]
Moreish Café in Dubai introduces a healthy Quinoa Burrito [7899-Views]
World-renowned Air Sculpture Artist Daniel Wurtzel collaborates with LG PuriCare™ air puri... [7662-Views]
MB&F M.A.D. Gallery presents aeronautical artwork "Nose Art” by French photographer M... [7332-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories