Teralys, a subsidiary of the Al Mada investment fund owned by the Moroccan royal family, has just signed a memorandum of understanding to acquire a majority stake in the Senegalese agri-food group Patisen.
Founded in 1981 and led by its founder, Youssef Omaïs, Patisen is a leading company in Senegal in the trading, production, and distribution of food products.
PATISEN, Senegal's second largest advertiser, now has more than 50 food brands (broths, natural spices, vinegars, spreads, beverages, mayonnaise, margarine, cooking oils, pasta, coffee) and has experienced significant growth outside Senegal in recent years, particularly in Nigeria and South Africa.
According to the press release announcing this information, "Teralys' acquisition of a stake in Patisen will enable the group to consolidate its position as the leader in Senegal and across Africa, and to accelerate its development as a regional platform by stepping up the launch of new products and targeting geographical expansion in markets offering the greatest growth potential."
The transaction is still subject to approval by the competition authorities.