Dubai – Mubasher: Majid Al Futtaim announced the acquisition of Retail Arabia, according to a statement.
The deal has been inked between Majid Al Futtaim and Retail Arabia’s parent company BMA International.
Retail Arabia is the franchise owner of 26 Geant stores across the UAE, Bahrain and Kuwait as well as four Gulfmart supermarkets in Bahrain.
All of the acquired stores including 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,” the statement added.
