Moroccan investment fund Al Mada has made a significant move in the agri-food sector by acquiring a majority stake in Senegalese agro-processor Patisen. The private equity fund has established Teralys, a subsidiary dedicated to the agri-food sector, to oversee its international operations in this domain.
Patisen, founded in 1981 and headquartered in Dakar, holds a prominent position in the African agri-food sector. The company focuses on trading, manufacturing, and distributing consumer food products, ranging from broths and beverages to margarine, spreads, edible oils, and spices. With an impressive portfolio of approximately fifty popular brands, Patisen has successfully expanded its presence across more than 30 African markets under the guidance of its shareholder and founder, Youssef Omaïs.
The completion of the acquisition is pending necessary administrative authorizations, as mentioned in the press release issued by Al Mada. Market analysts recognize Senegal as an attractive investment destination in West Africa, and they anticipate that the infusion of capital from Teralys will enable Patisen to strengthen its position as a leading player in Senegal and throughout the continent. The investment will also facilitate accelerated growth by facilitating new product launches and targeted expansions into markets with substantial growth potential.
Al Mada’s strategic vision for the agri-food sector in Africa is focused on long-term investments in projects that enhance the value of the sector and foster regional industrial integration. The investment fund aims to address the challenges posed by climate change and ensure access to healthy, high-quality, and affordable food products for African populations. Al Mada, present in 27 countries across Africa, is known for its significant investments in various strategic sectors, including telecommunications (Inwi), financial services (Attijariwafa Bank), mining (Managem group), and mass distribution (Marjane).
In recent years, Al Mada has gradually divested from the agro-industry in Morocco. It sold its shares in Lesieur to the French group Avril, divested from Centrale Laitière to Danone, and relinquished its stake in Cosumar (sugar industry) to Singaporean company Wilmar. This move to acquire Patisen and establish Teralys highlights Al Mada’s commitment to the agri-food sector on the African continent.
In 2017 alone, Al Mada invested a substantial amount of 600 million euros in various African countries, excluding Morocco. This underscores the fund’s dedication to driving economic growth and development across the continent. With its acquisition of Patisen, Al Mada continues to make strategic investments that contribute to the advancement of the agri-food sector in Africa, positioning itself as a key player in the region’s economic landscape.
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