Bel Group Expands in Morocco
Bel Group, the French branded cheeses specialist, is acquiring a 69.82% majority shareholding in Safilait, the third largest dairy processor in Morocco.The remaining 30.18% interest will stay under the ownership of Safilait’s founding company Yasfi. The deal will allow Bel and Safilait to broaden their offering in the Moroccan market, where the two companies already have strong brands and market positions.
Safilait specialises in the processing, packaging and sale of fresh milk, UHT milk and fresh dairy products through its Jibal® brand, has reported robust business growth over the past several years.
Bel leads the Moroccan cheese market with its The Laughing Cow®, les Enfants® and Kiri® brands. Present in the country since the 1970’s, Bel employs 1,500 people in Morocco and operates a plant in Tangiers that produces The Laughing Cow®, les Enfants® and Kiri® cheese.
The agreement is subject to several conditions, including the approval of anti-trust authorities. The parties hope to obtain these approvals in the third quarter of 2015.
Antoine Fievet, chairman and chief executive of Bel Group, says:”Bel is proud of its success in Morocco, built with the help of long-time local partners. The Group applauds this new partnership with recognized Moroccan producers, one that fully meets its strategic growth objectives.”
