Castel Group Struggles to Sell Moroccan Water Brand Aïn Ifrane Amid Market Challenges

The French group, specialized in the manufacture and marketing of beers and soft drinks in Africa, announced the sale of its African water brands, including the Moroccan Aïn Ifrane. According to management, water is no longer strategic for the group due to the exponential competition in this market.

Regarding the operation, the group had indicated last June "that it has indeed received expressions of interest for the sale of the said subsidiary," while specifying that "at this stage, there are no discussions or tangible elements justifying the publication of important information in accordance with stock market regulations."

However, at that time, the proposed prices did not match the brewer’s claims, reports Le Matin, recalling that the idea of selling Aïn Ifrane dates back to 2017. "At the time, the Sotherma group had expressed its willingness to take over the Aïn Ifrane brand. But the transaction never materialized," sources cited by the newspaper indicate. For the record, the brand holds nearly 10% market share and has a viable industrial tool in addition to a well-established customer base.