MOROCCO: Investor Abraaj looks to accelerate growth at candy firm Kool Food
Investment firm Abraaj Group has indicated it plans to support an "ambitious investment plan" to drive growth at newly-acquired Moroccan chocolate group Kool Food.
Abraaj said it would look to "consolidate" Kool's leading position in Morocco and "advance its international distribution strategy".
The investment house also intends to expand Kool's product line-up, with new products in the near-term and "complementary products" in the medium term.
"Kool Food is well-positioned in the Middle East and North Africa region as a successful local producer of quality chocolate confectionery products affordable to the region's burgeoning consumer classes. By building out Kool Food's current product offering with attractive new products and extending its pan-regional distribution, Abraaj will catalyse the company's growth into one of the leading chocolate confectionery players in the region," Tarek Kabil, an Abraaj partner, said.
Kool Food makes chocolate confections and powder drinks as well as other sweet and salted food products under its own brand. Its products are sold in Morocco as well as other countries Maghreb region, including Algeria and Tunisia.
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