GMG completed the acquisition of aswaaq from Investment Corporation of Dubai.

GMG, a well-being company retailing, distributing, and manufacturing a portfolio of leading international and home-grown brands across sport, completed the acquisition of aswaaq, a retail company, from Investment Corporation of Dubai, the principal investment arm of the government of Dubai. Financial terms were not disclosed. “This acquisition marks a strategic milestone in our operations, as we not only expand our food retail portfolio but also add aswaaq’s companies operating in retail, trading, and properties. Our acquisitions and expansions come with a purpose-driven objective - to contribute to the UAE government’s National Food Security Strategy and enhance and add value to our consumers’ well-being. We want to cover the entire consumer journey from creating concepts and brands to retailing our home-grown and international partners’ brands, brought together with an overarching commitment to improving people’s lives through active living, nutritious food, and good health," Mohammad A. Baker, GMG Deputy Chairman and CEO.