UAE-based private investor Abraaj Group has bought a stake in Moroccan confectionery manufacturer Kool Food for an undisclosed sum.
Established in 2010, Kool Food specializes in chocolate confections, powder drinks as well as other sweet and salted food products under its own brand. The company's products are exported to countries in the Maghreb region, including Algeria and Tunisia.
Through its expertise across the MENA region, Abraaj will consolidate Kool Food's presence in Morocco and enhance its international distribution strategy. It will also assist Kool Food to comply with advanced social and governance standards.
Abraaj Group partner Tarek Kabil said, "By building out Kool Food's current product offering with attractive new products and extending its pan-regional distribution, Abraaj will catalyze the company's growth into one of the leading chocolate confectionery players in the region."
Kool Food founder and CEO Anas Lahlou said, "Partnering with Abraaj will accelerate Kool Food's growth, building on our hard work over the last four years to develop this company into a leading confectionery brand recognized for making popular chocolate products."
Managing $7.5bn in assets, Abraaj Group operates more than 25 offices in Asia, Africa, Latin America and the Middle East.
Image: Kool Food specializes in chocolate confections. Photo: courtesy of artur84 / FreeDigitalPhotos.net.
