Bel Group will sell its majority stake in the Moroccan company Safilait, which it has held since 2015. The company will be acquired by Polish dairy group Polmlek for an undisclosed sum. Bel plans to focus its local business, Fromageries Bel Maroc, on growing its heritage cheese brands and developing local market share, the company says. Morocco remains a key market for Bel, it said. Bel employs around 2,500 people in Morocco.
Safilait was founded in 2006 and has become the third largest dairy company in Morocco. The company specialises in processing, packaging and selling fresh milk, UHT milk and fresh dairy products under the Jibal brand. The company employs nearly 1,500 people and has a production facility in the Fkih Ben Saleh region. Bel acquired a majority 69.82% stake in the company seven years ago from private equity firms Fipar Holding and Sopar. The remaining 30.18% stake remained in the hands of Safilait’s founding company Yasfi. Tarmast, which supplies Safilait, is also part of the deal.
Polmlek was founded in 1994 and currently operates 13 dairy plants in Poland. It employs 4,000 people and forecasts a turnover of €2bn in 2022.