Source: esmmagazine.comSaudi Arabia: Tamimi Markets Company completes the acquisition of Al RayaTamimi Markets Company ("Tamimi") announced the completion of its acquisition of 100% of Al Raya For Food Stuffs Company JSC ("Al Raya" or the "Company"), a portfolio company of Levant Capital and a leading supermarket chain operating along the western half of the Kingdom of Saudi Arabia. The transaction aligns with Tamimi Markets’ national growth strategy and further strengthens its position in the Western region of Saudi Arabia. Retail sales fell 4.5% during the quarter, to $647mln, while comparable-store sales were off by 2.8%. With 40 stores and a distribution center, the acquisition of UGO will expand Grocery Outlet's presence into Tennessee, North Carolina, Georgia, Alabama, Kentucky, and Virginia. 2 economy after 2023, which marked its fastest year for adding new stores in a decade.

Source: The Guardian February 16, 2024 13:08 UTC