French Retailer Celio Set for New Ownership in Morocco, $10 Million Deal Pending
The management of Celio, the French ready-to-wear brand exclusively for men and which has a multitude of stores in Morocco, will be entrusted to another holding company. The procedure for this change of hands has started and could soon lead to a final agreement.
The Celio takeover project is being carried by the Valoris Equity Fund investment fund in creation and Amine Berrada, the current CEO of Cap Retail. The file is currently on the table of the Competition Council and would be an operation around 100 million dirhams at the end of which Indigo Company and EuroMena III will withdraw in favor of Amine Berrada, the current CEO of Cap Retail and Valoris Equity Fund, reports Challenge.
With Celio, Cap Retail has more than 30 stores across Morocco. We can mention the Jennyfer franchise or the Undiz women’s lingerie.
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