“Daily” Group Becomes the Leading Supermarket Chain in Georgia

The Competition Agency of Georgia has approved “Daily” LLC’s acquisition of 100% of “Retail Investment,” better known as “Magniti.” This decision was made public today by the Competition Agency.

As of 2023, “Magniti” operated 349 supermarkets nationwide, with total sales of 570 million GEL and a net profit of 2.4 million GEL. The company’s assets were valued at 245.5 million GEL. Founded in 2017, “Magniti” was established by businessman Cesar Chocheli's holding.

“Daily,” founded in 2013, has focused on expanding supermarket chains in Georgia’s regions and also owns the “Gvirila” supermarket chain. According to its 2023 financial report, “Daily” held assets worth 129 million GEL and recorded sales of 327 million GEL, though it reported a loss of 5.4 million GEL last year. Businessmen Davit Kukhalashvili and Zurab Zakariadze own 51% and 37% of “Daily,” respectively.

In addition, on August 6, 2024, the Competition Agency approved “Daily’s” acquisition of a 100% stake in “Foodmart.” As a result, “Daily” gained ownership of supermarket chains “Spar” and “Ioli,” and businessman Archil Gegenava, founder of these networks, became a 30% shareholder in “Daily” through “Holding.G.”

Now, with today’s approval, the “Daily” group will unite “Daily,” “Spar,” “Ioli,” “Gvirila,” and “Magniti” under one umbrella, making it the number one player in Georgia’s supermarket sector.

Despite the merger slightly increasing market concentration, the Competition Agency emphasized that the overall market remains competitive. The market concentration index (HHI) currently stands at 461 units and will rise to 581 units following the merger. The agency concluded that the market remains low-concentrated, with no significant impact on competitiveness.