Bel Group has signed an agreement with Fipar Holding and Sopar to acquire a 69.82% stake in Moroccan dairy producer Safilait.
Safilait is the country’s third-largest dairy company, specialised in the processing, packaging and sale of fresh milk, UHT milk and fresh dairy products through its Jibal brand. France-based Bel is the current leader in Morocco’s cheese market and owns brand including The Laughing Cow and Babybel.
The acquisition “broadens” both Bel and Safilait’s domestic offering, where the two companies already own strang brands and possess strong market positions, Bel said. The remaining shares in Safilait will remain with its founding company, Yasfi.
Bel Group chairman and CEO Antoine Fievet said: “Bel is proud of its success in Morocco, built with the help of long-time local partners. The group applauds this new partnership with recognised Moroccan producers, one that fully meets its strategic growth objectives.”
Yasfi chairman and CEO Omar Kettani added: “We are honored to forge a partnership with the Bel Group, which is known and recognised both nationally and internationally for its professionalism and values. This partnership will enable Safilait to consolidate its position and to reach a new milestone in its growth.”
© FoodBev Media Ltd 2022
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