Majid Al Futaim Acquires Geant Franchise in the Middle East
- Majid Al Futtaim has announced the acquisition of Retail Arabia, through a deal with Retail Arabia’s parent company BMA International
- The acquisition of Majid Al Futaim includes 26 Geant hypermarkets and supermarkets in UAE, Kuwait and Bahrain as well as four Gulfmart supermarkets in Bahrain
- With the acquisition, all the Geant hypermarkets, supermarkets and convenience stores bought by Majid Al Futaim will be rebranded and carry the Carrefour name
- The acquisition will see Carrefour strengthen its position in the UAE, with its store count expected to increase from 67 to 80, and increase to 11 from 8 in Bahrain and Kuwait
- Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia
- Retail Arabia is the franchise owner of 26 Geant stores across the UAE, Bahrain and Kuwait as well as four Gulfmart supermarkets in Bahrain
- Retail Arabia employs about 3,261 staff, who would all join the 36,709 staff at Majid Al Futtaim as a result of the acquisition
- Majid Al Futtaim Properties owns 19 shopping malls in MENA, one mall in Cairo, 12 hotels in the region, as well as the rights to 65 Carrefour supermarkets and 85 hypermarkets in 14 countries
- Majid Al Futtaim Retail introduced the Carrefour brand to the Middle East in 1995, opening the region’s first hypermarket at Deira City Centre
