Agro-food enterprise Invictus Investment has acquired a majority stake in Moroccan agribusiness Graderco.
Invictus said its acquisition of a 60% stake in Graderco and its subsidiaries from Moroccan agribusiness Zalar Holding was part of its long-term strategy to expand into key African markets, form new strategic partnerships and acquire specialised knowledge and operational capabilities in downstream segments.
Invictus is active in the Middle East, Africa and Asia (MENA) and its portfolio includes grains, oilseeds, edible oils, animal feed, pulses, gum arabic and meat.
It said its acquisition was the company’s first major stake in local warehousing and distribution capabilities in Morocco.
“This acquisition gives us a strong local presence and is a key step in our long-term strategy to become a fully integrated agro-food enterprise,” Invictus CEO Amir Daoud Abdellatif said on 1 April.
“Graderco’s diverse product portfolio, robust sourcing network, and extensive in-country warehousing and distribution capabilities will generate significant synergies with our global trading operations. Looking ahead, we will continue to invest in downstream assets in the value chain – in Morocco and beyond – to enhance our supply chain capabilities.”
The partnership would enable Graderco to expand its product of range, strengthen its supply chain, and scale up its operations backed by Invictus’ financial resources, Invictus said.
“Together, we look forward to capitalising on Graderco’s long history as a grain importer operating out of four Moroccan ports and six terminals distributed across the country,” Zalar Holding CEO Driss Chaouni said.
Last year, Invictus expanded into Morocco and other new markets, including Tanzania, Mozambique, Turkey, Malawi, Burundi and Rwanda, while increasing trading volumes in two of its existing markets, Algeria and Egypt, according to its website.
The company said its focus was now on exploring further acquisition opportunities with the aim of becoming a vertically integrated agro-food leader in the MENA and Asian trading sectors.
Graderco imports, stores and trades between 2.5M-3M tonnes/year of grain and grain derivatives for human and animal nutrition, comprising over 25% of the country’s imports.
