{"id":11235,"date":"2023-02-06T13:32:57","date_gmt":"2023-02-06T13:32:57","guid":{"rendered":"https:\/\/www.gzjyws.com\/gmg-acquires-aswaaq-llc-from-investment-corporation-of-dubai\/"},"modified":"2023-02-06T13:32:57","modified_gmt":"2023-02-06T13:32:57","slug":"gmg-acquires-aswaaq-llc-from-investment-corporation-of-dubai","status":"publish","type":"post","link":"https:\/\/www.gzjyws.com\/zh-hant\/gmg-acquires-aswaaq-llc-from-investment-corporation-of-dubai\/","title":{"rendered":"GMG acquires aswaaq LLC from Investment Corporation of Dubai"},"content":{"rendered":"<p>The acquisition adds 11 community malls and 22 supermarkets to GMG\u2019s rapidly expanding retail network<\/p>\n<p><\/br><\/br><br \/>\n<b>UAE, February 06, 2023:<\/b><span style=\"font-weight: 400;\"> GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors, has announced the acquisition of aswaaq LLC from Investment Corporation of Dubai (ICD), the principal investment arm of the government of Dubai, including its companies operating in retail, trading, and properties.\u00a0<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">This acquisition adds a total of 11 community malls and 22 supermarkets to GMG\u2019s rapidly expanding retail network, positioning the group as one of the largest operators of community malls in the UAE. In April 2022, GMG acquired G\u00e9ant operations in the UAE from Urban Foods by Dubai Holding, adding 18 hypermarket and supermarket outlets to its rapidly expanding retail footprint.\u00a0<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Mohammad A. Baker, Deputy Chairman and CEO of GMG, said: \u201cThis acquisition marks a strategic milestone in our operations, as we not only expand our food retail portfolio but also add aswaaq\u2019s companies operating in retail, trading, and properties. Our acquisitions and expansions come with a purpose-driven objective &#8211; to contribute to the UAE government\u2019s National Food Security Strategy and enhance and add value to our consumers\u2019 well-being. We want to cover the entire consumer journey from creating concepts and brands to retailing our home-grown and international partners\u2019 brands, brought together with an overarching commitment to improving people\u2019s lives through active living, nutritious food, and good health.\u201d<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;We ventured into food retail last year as we want to cover the entire food consumption chain from farm-to-fork. By bringing aswaaq under the GMG portfolio, we are getting even closer to our communities. Through a wide range of supermarkets and community malls, we will continue enhancing convenience and improving our customers\u2019 lifestyle choices.\u00a0 We aim to take the concept of community malls to greater heights by nurturing the surrounding communities, regularly engaging with them, and creating opportunities for the local communities to thrive. aswaaq\u2019s customer loyalty program, <\/span><i><span style=\"font-weight: 400;\">wafa,<\/span><\/i><span style=\"font-weight: 400;\"> was designed to bring better value to the customers, and as such, it will remain an imperative platform for us to serve the national communities better,\u201d added Baker.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Khalifa Al Daboos, Deputy CEO, Investment Corporation of Dubai, said: \u201cWe, at ICD, are very proud of all that has been achieved at aswaaq in the last 12 years. We believe that aswaaq and its employees will thrive and grow under the guidance of a diversified family-owned business with immense experience and a glowing track record in the retail sector, where aswaaq will play the leading role in GMG\u2019s push to become the main player in UAE food retail.&#8221;\u00a0<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Currently, GMG\u2019s Consumer Goods division manages Franprix, Monoprix, and G\u00e9ant brands. To date, GMG has introduced over 120 brands and has announced plans to double its global workforce by 2025.\u00a0 Currently, GMG employs approximately 8,700 people across all its verticals, with its workforce estimated to grow by around 10% after the acquisition.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">GMG&#8217;s evolving retail strategy comes amid a rapid expansion of the UAE&#8217;s consumer retail market. The segment is <\/span><a rel=\"nofollow\" href=\"https:\/\/www.techsciresearch.com\/report\/uae-retail-market\/1508.html\"><span style=\"font-weight: 400;\">anticipated<\/span><\/a><span style=\"font-weight: 400;\"> to grow at nearly 6% in the next five years and touch US$37.70 billion by 2027 because of the rising per capita income, a booming tourism sector, a growing number of expatriates, and new commercial projects, including malls.\u00a0\u00a0<\/span><\/br><\/br><\/p>\n<p><b>About GMG<\/b><\/p>\n<p><span style=\"font-weight: 400;\">GMG is a global well-being company whose vision is to inspire people to win in ways that improve the world. GMG retails, distributes, and manufactures a portfolio of leading international and homegrown brands across sport, food, and health sectors with investments spanning four key verticals: GMG Sports, GMG Food, GMG Consumer Goods, and GMG Health and Beauty.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">With the acquisition of the G\u00e9ant supermarket chain in the UAE and expansion rights to the G\u00e9ant, Monoprix, and Franprix brands in the Middle East, GMG is now a leading player in the food retail industry.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Under the ownership and management of the Baker family, it has become a leading global company affiliated with the world&#8217;s most successful and respected brands in the well-being sector.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Working across the Middle East, North Africa, and Asia, GMG has introduced more than 120 brands into its markets. These include notable homegrown brands such as Sun &amp; Sand Sports, Dropkick, Supercare Pharmacy, Farm Fresh, Klassic, and international brands like Nike, Columbia, Under Armour, Timberland, Vans, Mama Sita&#8217;s, and McCain.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Please visit our website and social media channels for our latest updates:<\/span><\/br><\/br><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/www.gzjyws.com\/\"><span style=\"font-weight: 400;\">https:\/\/www.gzjyws.com\/<\/span><\/a><\/br><\/br><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/www.instagram.com\/gmgvoice\/\"><span style=\"font-weight: 400;\">https:\/\/www.instagram.com\/gmgvoice\/<\/span><\/a><\/br><\/br><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/twitter.com\/gmgvoice\"><span style=\"font-weight: 400;\">https:\/\/twitter.com\/gmgvoice<\/span><\/a><\/br><\/br><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/www.facebook.com\/GMGVoice\/\"><span style=\"font-weight: 400;\">https:\/\/www.facebook.com\/GMGVoice\/<\/span><\/a><\/br><\/br><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/www.linkedin.com\/company\/10077935\/\"><span style=\"font-weight: 400;\">https:\/\/www.linkedin.com\/company\/10077935\/<\/span><\/a><\/br><\/br><\/p>\n<p><b>For more information, please contact<\/b><b>: <\/b><a rel=\"nofollow\" href=\"mailto:gmg@bcw-global.com\"><span style=\"font-weight: 400;\">gmg@bcw-global.com<\/span><\/a><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">About aswaaq<\/span><\/br><\/br><\/p>\n<p><b>aswaaq<\/b><span style=\"font-weight: 400;\"> is a local brand and recognized as one of the trusted retailers in UAE. In compliance with the international standards, aswaaq manages and operates supermarkets and retail community malls located at the heart of residential communities, in addition to, a variety of value added services.<\/span><\/br><\/br><\/p>\n<p><b>aswaaq<\/b><span style=\"font-weight: 400;\"> supermarkets are set apart by the vibrant colours and the flair of an authentic traditional street market. It gives the customer a sense of place and a sense of belonging; somewhere to call their own and a place closer to home. Over and above, HACCP &amp; ISO certifications and standards ensure the quality of products &amp; services made available and offered to the customers.\u00a0<\/span><\/br><\/br><\/p>\n<p><b>aswaaq<\/b><span style=\"font-weight: 400;\"> boasts with a neighborhood that combines the spirit of a bazaar and the feeling of an outdoor market located at the heart of communities.\u00a0 Each community mall is complemented with a tailor-made assortment of retail shops to meet the different needs and demands of the surrounding communities such as pharmacies, beauty saloons, stationaries, restaurants banks and others.<\/span><\/br><\/br><\/p>\n<p><b>aswaaq\u00a0<\/b><span style=\"font-weight: 400;\">is created for the modern world with a fresh, strong and easily recognizable brand identity. the brand\u2019s visual identity and story reflects diversified culture of the UAE Community. It is a brand of quality and convenience closer to the communities.<\/span><\/br><\/br><\/p>\n<p><b>aswaaq<\/b><span style=\"font-weight: 400;\"> is a place that embraces all the values of an authentic market place; it is a place where people will know you, a place where people will listen to you; a place where people will understand your needs and wants.<\/span><\/br><\/br><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s all speak aswaaq, a language that breaks all the barriers of communications and bring everyone under one umbrella.<\/span><\/br><\/br><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition adds 11 community malls and 22 supermarkets to GMG\u2019s rapidly expanding retail network UAE, February 06, 2023: GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors, has announced the acquisition of aswaaq LLC from Investment Corporation of Dubai (ICD),&hellip; <a class=\"more-link\" href=\"https:\/\/www.gzjyws.com\/zh-hant\/gmg-acquires-aswaaq-llc-from-investment-corporation-of-dubai\/\">Continue reading <span class=\"screen-reader-text\">GMG acquires aswaaq LLC from Investment Corporation of Dubai<\/span><\/a><\/p>\n","protected":false},"author":14,"featured_media":11228,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[138],"tags":[156,162,185,331],"class_list":["post-11235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases-zh-hant","tag-retail-zh-hant","tag-expansion-zh-hant","tag-growth-zh-hant","tag-new-brand-zh-hant","entry"],"yoast_head":"\n<title>GMG acquires aswaaq LLC from Investment Corporation of Dubai - GMG<\/title>\n<meta name=\"description\" content=\"The acquisition adds 11 community malls and 22 supermarkets to GMG\u2019s rapidly expanding retail 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