Dislog is one of the leaders in the FMCG industry in Morocco (photo Dislog Group)
MOROCCO / MALTA / TUNISIA. Private equity firm Mediterrania Capital Partners has announced that it has acquired a stake in Dislog Industries, a Moroccan company specialising in consumer goods, particularly bleach, as well as private label and white label hygiene products.
Mediterrania Capital Partners is investing 280 million dirhams (€26.5m) in this company, a subsidiary of the Dislog Group (2.7 billion dirhams - €260m - in turnover), via its third fund (MC III) dedicated to mid-sized companies in North Africa and sub-Saharan Africa with turnover of between €20m and €300m and with expansion strategies in North Africa and sub-Saharan Africa.
According to its press release published on Monday 19 July 2021, "The Fast-Moving Consumer Goods (FMCG) market in Morocco is expected to grow strongly in the next years. This positive trend is driven by the country’s expanding middle class, which is more knowledgeable about products and quality and is keen to increase its household spending on consumer goods. Morocco’s growing urban population and overall economic development also help offer a favourable environment for the FMCG sector."
Mediterrania Capital Partners is investing 280 million dirhams (€26.5m) in this company, a subsidiary of the Dislog Group (2.7 billion dirhams - €260m - in turnover), via its third fund (MC III) dedicated to mid-sized companies in North Africa and sub-Saharan Africa with turnover of between €20m and €300m and with expansion strategies in North Africa and sub-Saharan Africa.
According to its press release published on Monday 19 July 2021, "The Fast-Moving Consumer Goods (FMCG) market in Morocco is expected to grow strongly in the next years. This positive trend is driven by the country’s expanding middle class, which is more knowledgeable about products and quality and is keen to increase its household spending on consumer goods. Morocco’s growing urban population and overall economic development also help offer a favourable environment for the FMCG sector."
An IPO in 2024
Founded in 2017 (2005 for Dislog Group) in Casablanca, Dislog Industries (330 employees) intends to continue its development on its domestic market but also in external growth internationally as its CEO Moncef Belkhayat states, "the entire amount raised will be used to acquire FMCG brands in Morocco and abroad, which will allow us to double our EBITDA and better prepare Dislog Industries for its IPO planned for June 2024." He intends to increase the turnover of the industrial division to 1 billion dirham.
The Moroccan company recently created, at the end of the first half of 2021, a subsidiary in Tunisia (Dislog Industries Tunisie) with a capital of 6 million dinars (€1.8m) focused on hygiene and food. It is expected to make two acquisitions in the near future and to launch a Tunisian cleaning products and paper business.
"Over the last few years, Dislog Industries has built up the expertise to maintain and develop its leading position in the FMCG sector. Thanks to strong operational synergies, MC III's investment in Dislog Industries will allow the group to consolidate its position in Morocco while expanding its product range and penetrating new segments with strong growth potential", comments Hatim Ben Ahmed, partner at Mediterrania Capital Partners.
Dislog Group is present in five areas of activity (distribution and logistics, industry, real estate, communication and digital, press) and develops its own brands and under licence such as ACE, Fine, Aïcha, Javel Lacroix, Aque Plus or Edita.
This is the seventh operation carried out by MC III after acquiring stakes in TGCC (construction - Morocco) in January 2018, Cairo Scan (medical imaging - Egypt) in January 2018, Groupe Cofina (mesofinance and transactional financial services in West and Central Africa) in March 2018, Aziza (food distribution - Tunisia) in July 2019, Akdital (network of private clinics in Morocco) in November 2019 and MetaMed (medical imaging centres - Egypt, Jordan and Saudi Arabia) in May 2020
The Moroccan company recently created, at the end of the first half of 2021, a subsidiary in Tunisia (Dislog Industries Tunisie) with a capital of 6 million dinars (€1.8m) focused on hygiene and food. It is expected to make two acquisitions in the near future and to launch a Tunisian cleaning products and paper business.
"Over the last few years, Dislog Industries has built up the expertise to maintain and develop its leading position in the FMCG sector. Thanks to strong operational synergies, MC III's investment in Dislog Industries will allow the group to consolidate its position in Morocco while expanding its product range and penetrating new segments with strong growth potential", comments Hatim Ben Ahmed, partner at Mediterrania Capital Partners.
Dislog Group is present in five areas of activity (distribution and logistics, industry, real estate, communication and digital, press) and develops its own brands and under licence such as ACE, Fine, Aïcha, Javel Lacroix, Aque Plus or Edita.
This is the seventh operation carried out by MC III after acquiring stakes in TGCC (construction - Morocco) in January 2018, Cairo Scan (medical imaging - Egypt) in January 2018, Groupe Cofina (mesofinance and transactional financial services in West and Central Africa) in March 2018, Aziza (food distribution - Tunisia) in July 2019, Akdital (network of private clinics in Morocco) in November 2019 and MetaMed (medical imaging centres - Egypt, Jordan and Saudi Arabia) in May 2020
