UAE-based multinational telecom services operator Emirates Telecommunications Group Company (Etisalat Group) has entered into an agreement to fully acquire the leading online marketplace for groceries, elGrocer DMCC.
According to the statement, this acquisition will help the company achieve its digital goals by enhancing its services, bringing it closer to consumers’ daily lives, and generating synergies that will result in a more diversified and integrated product offering.
“Online shopping has redefined retail in the last decade with an increasing number of consumers moving to online transactions. Considering Etisalat’s leadership role in the acceleration of UAE’s digital transformation, we have been continuously working on new, innovative digital services and this acquisition is in line with our strategy to empower consumers, enhance engagement through our digital marketplace platform and drive diversification of our business.”
elGrocer’s strong online presence in the country will complement Etisalat UAE’s existing marketplace services under the brand ‘Smiles’ including online food delivery, lifestyle offers and the ability to earn and redeem points at more than 7,000 outlets across the Emirates.
Mr. Raed Hafez, CEO of elGrocer said, “We are excited to join forces with the Etisalat team allowing us to tap into their digital capabilities, advanced network, and services to accelerate our strategic expansion plans. Combining our strengths backed by Etisalat’s strong base will give us full strength to capture the market opportunities ahead.”
“We started the elGrocer journey to bring a new and superb grocery shopping experience to people in the UAE, and we are proud of what we have achieved so far. Now, we start a new chapter combining what we have built with Etisalat’s innovative services and Smiles’ powerful offering, as we look forward to providing customers with even more delightful experiences and benefits,” commented Mr. Nader Amiri, Founder & COO of elGrocer.
Established in 2015, elGrocer is a leading online marketplace for groceries operating in all seven emirates of the UAE. It brings together major retailers and specialty stores on a single platform with more than 500 outlets and 120,000 products listed.