EuroMena Funds invests in Morocco’s Retail Holding

Jun 22, 2017

EuroMena Funds announced it has acquired a 7% stake stake in the Retail Holding group for a total of $22.5 million. Retail Holding, a Moroccan group founded in the 1980s with a retail operation under the “Hyper” brand has become one of the leading retailers in the country. This is mostly due to its “Label’Vie” stores and for having the franchise for the French retail giant Carrefour. Additionally, the group is also the franchisee for Kiabi, Virgin Megastore and Burger King.

Information provided by EuroMena says this position in the Moroccan retail landscape will be enhanced even further as the capital from the investment will be put to use in Retail Holding’s expansion plans. According to Trendtype’s retail database tracker, Retail Holding has now 45 stores across Morocco, mostly under the “Carrefour Market” brand.  The deal with EuroMena is expected to contribute to the group’s growth in Morocco, “especially its Label’Vie subsidiaries”, according to Retail Holding.

The investment should also support Retail Holding’s expansion outside of Morocco, which started recently when the group acquired control of Côte d’Ivoire’s CDCI, the second largest player in the market by number of stores.  EuroMena representatives have stated that they are confident in the investment and believe that Retail Holdings is “well positioned for a healthy growth in the coming years, with the government promoting the development of modern retail and a shift in consumer behaviour towards the growing channel.”

Apart from Côte d’Ivoire, the group has also invested in Indigo Company, a clothing retail franchise in Tunisia, Morocco and Algeria.

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