Bel Completes Moroccan Acquisition
The Bel Group, the French dairy giant, has completed its acquisition of 69.82% of Safilait, Morocco’s third largest dairy company, for an undisclosed price. Safilait, which specializes in the processing, packaging and sale of fresh milk, UHT milk and fresh dairy products through its Jibal brand, has reported robust business growth over the past several years.
Present in the country since the 1970’s, Bel employs 1,500 people in Morocco and operates a plant in Tangiers that produces The Laughing Cow, les Enfants and Kiri cheese. Bel is the leading player in the Moroccan cheese market.
The deal allows Bel and Safilait to broaden their offering in the Moroccan market, where the two companies already have strong brands and market positions.
The remaining 30.18% interest in Safilait will stay under the ownership of Safilait’s founding company, Yasfi, led by Omar Kettani, and Mohammed Raita, Safilait’s chief executive.
