Bel Group and Polmlek have announced they have signed an agreement to sell Bel’s stake in Moroccan dairy producer Safilait, and the Tarmast farm that supplies it.
Safilait, which Bel acquired in 2015, specialises in the processing, packaging and selling of fresh milk, UHT milk and fresh dairy products. The company has since developed Safilait’s products and activities – including local brand Jibal and its investment in the company’s Moroccan production facility.
The divestment will allow Polmlek to continue accelerating the development and growth Safilait achieved under Bel’s previous ownership. Bel’s current brands within the Morrocan market include The Laughing Cow, Les Enfants and Kiri, as well as its Tangier factory.
Bel Morocco’s Chakib Seddiki commented: “This project is in line with our strategy to consolidate our historical activities in this major local market by increasing our focus on our core cheese brands, whilst providing Safilait with the chance to write a new chapter in their history alongside a player, Polmlek, that is a milk and dairy specialist and which has strong ambitions in Morocco”.
The transaction, which is subject to the approval of regulatory and competition authorities, is expected to close in the second half of the 2022 fiscal year.
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