Photo: Courtesy of Retail Holding
Rabat, Morocco, October 4, 2024 – To boost access to affordable, high-quality food products in Morocco and Côte d’Ivoire, IFC, Fipar Holding, and CDG Invest Growth today announced an investment in Retail Holding, a leading Moroccan-based food and consumer goods retailer.
IFC, Fipar Holding (an investment fund managed by CDG Invest) and CDG Invest Growth (through its fund under management Capmezzanine III) will jointly own a 21.5 percent stake in Retail Holding, alongside its historical shareholders, Best Financière and Sanam Group.
The partnership will allow Retail Holding to expand its operations in both Morocco and Côte d’Ivoire, including into underserved areas, support job creation, and help strengthen local food supply chains. In addition to financing, IFC will provide advisory services on environmental and social practices and will assist Retail Holding to improve career prospects for women, particularly regarding recruitment and retention.
With extensive experience in the retail sector, Retail Holding controls Label'Vie, a major food retailer in Morocco. In Côte d'Ivoire it owns Compagnie de Distribution de Côte d'Ivoire (CDCI), one of the country's leading food retailers. Additionally, the Retail Holding Group has recently expanded its activities in France.
IFC's investment includes both an equity stake in Retail Holding, as well as equity financing of more than 9 billion CFA francs ($15 million) in CDCI, to support its expansion plan in Côte d’Ivoire.
Thanks to their extensive experience in supporting Moroccan groups in the implementation of their development strategy, Fipar-Holding and CDG Invest Growth will help Retail Holding succeed in its ambitious growth strategy and execute its international expansion plans.
“We would first like to express our gratitude to Growthgate and Euromena funds for their valuable collaboration and commitment alongside us for over seven years. Their support has been crucial in our journey. We enthusiastically welcome the arrival of IFC, Fipar Holding, and CDG Invest Growth, major institutional players. Their solid expertise and long-term commitment will be essential to support us in this new phase of our development. Together, we are determined to achieve our goals and realize our ambition of becoming a leading force in distribution, both in Morocco and internationally.” said Riad Laissaoui, CEO of Retail Holding. “This transition in our shareholder structure aligns with our strategic vision to strengthen our market position and explore new growth opportunities. With the support of our new partners, we are eager to diversify our offerings and innovate in our services to better meet consumer needs. By joining forces, we commit to creating a positive impact on the community while contributing to the modernization of the retail sector.”
“We are delighted to invest in a company that is having a considerable impact on economic and social development, by giving people greater access to essential quality products at competitive prices, and by fostering a modern and dynamic commercial ecosystem that is a major job creator,” said Khalid Ziane, Managing Director of Fipar-Holding. “We look forward to working with all the shareholders to support Retail Holding's growth, both in Morocco and internationally, by strengthening its territorial coverage and developing new segments, including e-commerce.”
“Our partnership with Retail Holding group is testimony to our commitment to supporting a pioneering vision,” said Hassan Laaziri, Managing Director of CDG Invest Growth. “Indeed, our aim is to contribute to the execution of the group's ambitious strategy, consisting in a modern, accessible store offering tailored to each Moroccan citizen, while offering the right product, at the right price, in the right place and at the right time. Together, we have the opportunity to transform the consumer experience and contribute to a more inclusive future”.
“We believe that the private sector can play a key role in the food distribution industry to help modern retailers bridge the supply-demand gap and contribute to food security in the region,” said David Tinel, IFC’s Regional Manager for the Maghreb. “This partnership is in line with IFC’s strategy to support the expansion of Moroccan companies and their development in Africa.”
Over the past three years, IFC has invested and mobilized more than $1 billion in Morocco. In its Fiscal Year 2024, IFC committed about $600 million in Morocco to support sustainable development.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
Stay Connected with IFC on social media.
About Fipar Holding
Fipar Holding is an investment firm managing nearly 10 billion Dirhams in assets, fully owned by CDG Invest, the investment arm of the Caisse de Dépôt et de Gestion (CDG) Group. As a proactive and committed minority financial investor, Fipar Holding strives to initiate or accelerate the growth and development of major projects in Morocco. Its mission is to support both private and public Moroccan companies in becoming key players domestically and internationally. Additionally, Fipar Holding assists international companies in establishing and expanding their presence in Morocco, leveraging its close ties with the CDG Group and its deep knowledge of the local market and partners. By offering its expertise, resources, and network, Fipar Holding helps unlock the growth potential of its partner companies. For more information, visit www.fipar.ma.
About CDG Invest Growth
CDG Invest Growth is an investment fund management company regulated by the AMMC, and subsidiary of CDG Invest, one of the first players in the regulated private equity industry in Morocco, which has successfully executed diversified investments in Moroccan companies with strong growth potential, particularly in the industrial, healthcare, distribution and services sectors.
CDG Invest Growth has built an extensive track record over the last 20 years, with almost 2 billion dirhams raised since 2001, and the completion of more than 25 investments in flagship Moroccan companies such as T2S, Oncorad group, HPS, Jet Contractors and Intelcia.
CDG Invest Growth's contribution is reflected in its high value-added involvement in the governance bodies of its investments, which acts as a catalyst for their growth. The management company has also made a major contribution to shaping national and regional champions through the origination and participation in the execution of organic growth projects and build-up strategies.
For more information, visit www.cig.pe.
About Retail Holding
Retail Holding SA, a subsidiary of Best Financière group, is a holding company managing direct and indirect investments. Based in Rabat, the company plays a central role in the food and non-food retail sector, relying on its flagship subsidiaries in Morocco, including Label'Vie, Virgin Megastore, Burger King and Kiabi. Also present internationally, Retail Holding is a major player in food retail in Côte d’Ivoire through the Compagnie de Distribution de Côte d'Ivoire (CDCI). The group also operates in France by managing several Carrefour hypermarkets, thus consolidating its presence in international markets. With over 16,000 employees, Retail Holding contributes significantly to job creation and economic dynamism in the regions where it operates. Its commitment to innovation and operational excellence enables the group to consolidate a turnover exceeding 25 billion dirhams. The group continues to explore new growth opportunities, particularly through the expansion of its network in Morocco and internationally, the development of e-commerce and the growth of other non-food retail sectors.
Contacts
For IFC
For Fipar Holding
For CDG Invest Growth
For Retail Holding
Stay Informed
Sign up to have customizable news & updates sent to you.