Investment firm, Development Partners International (DPI), has announced the signing of Dolidol’s acquisition of Mouka, making Dolidol a regional champion and leader in the African bedding and mattress industry.
Dolidol, a market-leading operator in Francophone Africa involved in the manufacturing and distribution of bedding and mattress products, acquired the Nigerian giant, Mouka with an investment of $60 million.
The subsidiary of Palmeraie Holding, which operates in the polyurethane foam and bedding sector, is said to be accelerating its African expansion through a successful operation in Nigeria.
Backstory
In May 2021, the Moroccan mattress maker, Dolidol announced plans to make an acquisition in Nigeria in order to establish its presence in Africa’s largest economy and expand its base in West Africa. However, its potential target at the time was not made known.
What they are saying
Commenting on the acquisition, Saad Berrada Sounni, the President of Palmeraie Holding, said that “the announcement represents an important step for our company and creates an indisputable Pan-African champion of the North, West and East of the continent, strategically placed to serve the better an African market in strong growth”.
The CEO of Dolidol, Mohamed Lazaar, believes the acquisition of Mouka will allow Dolidol to strengthen its presence in the country and complement the company’s growth in the region with an addressable market of around 200 million Nigerians.
He said, “Dolidol continues to strengthen its position as an African leader. The acquisition of Mouka presents a real opportunity for development in a structured market with growth potential of around 10% per year”.
What you should know
Dolidol is a market-leading operator in Francophone Africa involved in the manufacturing and distribution of bedding and mattress products.
The subsidiary of Palmeraie Holding has seven production units in 5 countries including Morocco and Ivory Coast, where it has been present since 2016, and from where it serves border countries in the region of West Africa such as Ghana, Burkina Faso, Mali, Guinea and Liberia.
Founded in 1959, Mouka is a polyurethane foam mattress manufacturer with three factories strategically located in Nigeria.
