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July 1, 2020

Egypt’s Edita Food Industries secures loan for new Morocco plant

Egypt's Edita Food Industries has obtained a loan from a Middle Eastern bank to complete the construction of a new production facility in Morocco.

By Dean Best

Egypt’s Edita Food Industries has obtained a loan from a Middle Eastern bank to complete the construction of a new production facility in Morocco, where the snacks maker works with a joint-venture partner Dislog Group.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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The seven-year loan from the Morocco unit of Jordan-headquartered Arab Bank amounts to MAD80m (US$8.2m), and will be used to finance the construction of the facility, as well as machinery and equipment, according to a statement provided to the London Stock Exchange. 

Work on the plant started last year and is expected to be completed by the end of 2020, a company spokesperson told just-food, adding that Edita will disclose the products to be manufactured at the site in due course. The Cairo- and London-listed business expects the facility to be operational by early next year.

While Edita is already present in Morocco via its venture with Dislog – Edita Food Industries-Morocco – the spokesperson said the government of the north African country is encouraging more foreign direct investment. It is also a “sizeable market” where the majority of the around 40 million population are young people, making it an attractive investment destination, the spokesperson added.

Edita formed the $10m JV with Dislog – a private distribution company of fast-moving consumer goods – in 2017 and holds a 51% stake.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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