Spanish baker Dulcesol has entered Morocco through a local sales, marketing and distribution joint venture with an undisclosed local partner.
Dulcesol has acquired a 60% stake in the venture, which will be based in Casablanca.
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The pastries, cakes and breads group is selling 20 products including muffins and croissants in Morocco, aiming at EUR1m sales there in year one.
It is also investing EUR10m in a factory in Algeria, where it already derives 4% of annual sales that reached EUR249.2m in 2012. The plant will open next year, with 100 employees to supply Algeria and other Mahgreb nations including Morocco.
“Our pastries don’t allow for long trips and we would lose our competitive edge if we tried to ship long distances,” Dulcesol brand manager Alberto Garcia Romero told just-food. “Closer countries, with refined tastes and where we can adapt, are priorities for our internationalisation.”
Exports accounted for 8.6% of Dulcesol’s turnover in 2012, having risen from only 2.6% of the total in 2008, and are expected to be around 12% or more of sales in 2013.
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By GlobalData
