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Abraaj sweet enough on Moroccan chocolate maker Kool Food to buy business

17 Apr 2014

news_barofchocolate_lrgGlobal emerging markets investment giant The Abraaj Group has bought Moroccan chocolate confectionary maker Kool Food.

The company, which was launched in 2010, specialises in developing, producing and selling chocolates, powder drinks and sweet and salted food products in Morocco, Algeria and Tunisia.

Abraaj said it planned to use its networks in the MENA region to expand Kool Food’s distribution and help it develop new products.

Abraaj partner Tarek Kabil said, “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 catalyze the company’s growth into one of the leading chocolate confectionery players in the region.”

Abraaj director Anas Guennoun added, “Our investment in Kool Food marks our third investment in Morocco since 2012, and aligns with our strategy of seeking strong, well-managed companies in the high-growth FMCG sector.

“We see significant upside potential in Morocco, across multiple sectors, and this investment offers another opportunity for Abraaj to capitalize on this attractive market.”

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