Moroccan Firm Mutandis to Acquire US Sardine Brand Season, Expanding into American Market

The finalization of the acquisition operation depends on Morocco and the United States taking the regulatory authorizations. But before this purely administrative step, the acquisition agreement was signed between Mutandis and the American food giant, RAB Food.

Through this record acquisition, the Moroccan group is making a breakthrough as, it is explained, it will thus have access to the main American food distribution chains. In addition, the canned fish production division of the company will be able to benefit from the experience of nearly a century of the "Season" brand and its financial solidity to boost its performance.

Season Brand, which has shown good resilience to the effects of the coronavirus, recorded growth of 13% between 2015 and 2019 with net sales of $54.6 million.

"At the current exchange rate, the consolidation of Season within Mutandis will add approximately 480 million dirhams to the group’s annual revenue, 60 million dirhams to its gross operating surplus and 45 million dirhams to its net income," Mutandis, active in the marketing of canned fish in Morocco and abroad under the Anny, Josiane and Marine brands.

Listed on the Casablanca Stock Exchange, the Mutandis group recorded a sharp increase in revenue in its "seafood" segment in the first quarter of 2021, and its canned sales were up 11.3% in volume at the end of March 2021.