The acquisition marks GMG’s first entry into food retailing.
The deal includes the acquisition of 18 hypermarkets and supermarkets from Urban Foods by Dubai Holding, which operates the Géant brand in the UAE.
Geant is part of Groupe Casino, a French retailing giant with a turnover of over 35 billion euros ($38 billion).
In 2020, GMG acquired Royal Sporting House.
Recently, GMG acquired the rights to manage, distribute and retail the Nike brand in Egypt and Iraq starting Q3 2022.