Abu Dhabi: The Abraaj Group, an investor operating in global growth markets, announced on Wednesday the acquisition through one of its funds of a stake in Kool Food, a Moroccan chocolate confectionary manufacturer based in Casablanca.
Specialising in developing, producing, and selling chocolate confections, Kool Food is one of the few chocolate-based product manufacturers in the region. It offers several categories of products, which are sold locally as well as exported to countries in the region such as Algeria and Tunisia.
Strong networks
Abraaj said in a statement that it plans to draw on its strong networks across the Middle East and North Africa to consolidate Kool Food’s position in Morocco, and advance its international distribution strategy. The Group will also seek to enhance Kool Food’s offerings with new products in the near term, and complementary products in the medium term.
Abraaj, which invests with an approach to sustainability, will assist Kool Food in its efforts to meet advanced social and governance standards in the business.
“Our investment in Kool Food marks our third investment in Morocco since 2012, and aligns with our strategy of seeking strong, well-managed companies in the high-growth FMCG sector,” stated Anas Guennoun, director at The Abraaj Group.
He added that the company sees significant potential in Morocco, across multiple sectors, and this investment offers another opportunity for Abraaj to capitalise on this attractive market.
Tarek Kabil, partner at The Abraaj Group, said the company plans to catalyse Kool Food’s growth into one of the leading chocolate confectionary players in the region. There are also plans to extend distribution in the region.
