Qatar-based Al Meera has announced that it has completed the acquisition of UAE-based Al Safeer’s operations in Oman, marking Al Meera’s first entry outside its home market.
Acquisition to add five stores to Al Meera’s portfolio
The purchase of Al Safeer’s operations in Oman will see Al Meera acquire five stores in the market. The two hypermarkets and three supermarkets generated sales in the region of OMR25 million in 2012 and will help support Al Meera’s expansion.
Purchase builds on expansion in region
The acquisition of Al Safeer’s operations comes soon after Al Meera opened the first Géant branded hypermarket in Qatar, under its contract with Casino.