Moroccan Beverage Giant Mutandis Acquires "Ain Ifrane" Brand for 380 Million Dirhams

The operation follows an offer addressed by Mutandis to SBM last December. The Ain Ifrane brand generated an annual turnover of around 240 million dirhams and a current net profit of around 25 million dirhams in 2022. The integration of "Ain Ifrane" into the Mutandis group will create a beverages division generating more than 350 million dirhams in turnover.

The finalization of this transaction will not be immediate. Several conditions must be met before the closing of the agreement. Among them are obtaining the necessary regulatory approvals, in particular the approval of the Moroccan Competition Council, and the prior sale by SBM to EAE of the "mineral water" distribution activity. The two parties hope to conclude the transaction during the month of July 2023.