Majid Al Futtaim’s takeover of Retail Arabia will involve rebranding 30 stores
Dubai Majid Al Futtaim has announced its acquisition of Retail Arabia, the franchise owner of 26 Géant stores across the UAE, Bahrain, and Kuwait plus 4 Gulfmart supermarkets in Bahrain. The deal has been agreed between Majid Al Futtaim and Retail Arabia’s parent company, BMA International.
All the acquired stores, which include hypermarkets, supermarkets, and convenience stores, will be rebranded under Carrefour, increasing its store count in the UAE from 67 to 80. Bahrain will now have 11 Carrefour stores and Kuwait 8. Majid Al Futtaim said all Retail Arabia’s employees would be retained.
Alain Bejjani, CEO at Majid Al Futtaim – Holding, said the acquisition would cement 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,” he said. “Our ambition is to expand our physical as well as our digital presence, and reinforce our omni-channel offering.
“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.”