KZ and Partners successfully advises Mutandis on the acquisition of EAE

KZ and Partners is delighted to announce its recent successful advisory role in Mutandis' acquisition of Euro African des Eaux (EAE). The acquisition was conducted through Mutandis’ wholly-owned subsidiary, Distra, from Société Boissons du Maroc (SBM), at an estimated price of MAD 380,000,000.

EAE is a prominent concessionaire of a natural water source, Ben Smim, located in the Middle Atlas Mountain. It also owns Ain Ifrane, a popular water brand in Morocco. The acquisition included the purchase of some distribution assets from SBM, which were sold to EAE prior to the completion of the transaction.

The completion of this transaction was subject to the satisfaction of certain conditions precedent, in particular the approval from the Moroccan Competition Council.

This strategic acquisition consolidates the position of the Mutandis group as a leading market player in the beverage sector. It is anticipated to boost the company's revenues to around MAD 350 million for the drink division.

The KZ and Partners team, led by Partner Omar Zizi, and assisted by associate Nezha Benabdeljalil, provided their expertise and advice to ensure the successful completion of this acquisition.

For further information, contact us ([email protected]).

Mutandis is a Morocco-based company operating in the wholesale industry. As an industrial and commercial group, Mutandis specializes in consumer goods across three business lines: detergents, seafood products, and bottles. In the detergent sector, the company produces a variety of products such as washing powder, multipurpose paste, and bleach under brands like Magix, Wash, and Nex, among others. In the seafood products line, Mutandis manufactures and distributes canned fish to Africa, Europe, and the US under brands such as Josiane, Anny, and Season. In the bottle sector, Mutandis produces PET (Polyethylene Terephthalate) bottles and plastic bottle caps for sodas, mineral water, cooking oil, and fruit juice. Mutandis is a publicly listed company on the Casablanca Stock Exchange.

SBM, a leader in the agri-food sector, has been a historical producer of beer in Morocco since 1919. Under the governance of the Castel Group, its majority shareholder since 2003, SBM has diversified its activities and established high-quality industrial processes. The company is engaged in the production and distribution of beers, wines, and olive oil. With the recent disposal of its water business, SBM will now concentrate on its core activity: the production and distribution of beers. SBM is a publicly listed company on the Casablanca Stock Exchange.