The agreement sets the stage for Monoprix’s return to Lebanon and demonstrates the brand’s wider expansion across Africa and the Middle East.
The retailer is targeting 200 outlets as financial results show rising revenue and profit.
Retail giant SPAR exits Switzerland and the UK, resulting in significant losses, while operations in Southern Africa continue to make a profit.
The next CEO will be hired from outside the company to bring new perspectives.
New store signals renewed competition in a shifting grocery landscape.