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Rabat – French dairy producer Bel Group sold its stakes in the Moroccan-based firm Safilait and its Tarmast farm to the Polish giant Polmlek.
Bel Group acquired Safilait in 2015 to expand the group’s operations in Morocco. Safilait is a dairy company specialized in the processing, packaging, and sale of fresh milk, UHT milk, and other dairy products.
Following the acquisition, Bel Group has helped Safilait develop its local brands, such as Jibal, and has invested in the upgrade of the company’s production facility, turning Safilait into the third-largest dairy player in Morocco.
As Polmlek assumes control over Salifait, Bel has ensured its commitment to a “harmonious takeover by Polmlek for all stakeholders involved,” adding that it is set to preserve commercial synergies and protect Sailifait’s brands.
The deal is expected to close in the second half of 2022 after obtaining approval from Moroccan regulatory and competition authorities.
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Commenting on the deal, the CEO of Polmlek said that, “The transaction will enable Polmlek International to implement a long-term plan of foreign expansion by establishing a footprint in the Moroccan market, with a well-established household brand, a solid asset-base, and an experienced management team.”
As Polmlek extends its footprint in Morocco through the recent acquisition, Bel will shift its focus to its “core cheese brands” while Safilait “writes a new chapter in their history alongside Polmek,” said Director-General of Bel Morocco, Chakib Seddiki.
Present in Morocco since the 1970s, Bel Group has plans to expand its investments in the country to “consolidate the position of [its] historical brands,” noted the group’s CEO, Cecile Beliot.
The company is known for producing popular cheese brands such as Laughing Cow (La Vache Qui Rit), Les Enfants, and Kiri.
