It’s official. The Mutandis group announces the final completion of the acquisition, through its subsidiary Distra, of all the shares of Euro Africaine des Eaux (EAE) at a price of 380 million dirhams.
In a press release published on July 10, 2023, the group founded by former Minister Adil Douiri, specifies that this announcement comes following the lifting of the conditions precedent linked to this operation.
As a reminder, the EAE company owns the mineral water brand Ain Ifrane, “well known to Moroccan consumers and appreciated and renowned for the excellence of its spring water”, underlines the group.
The acquired water business achieved annual revenue of approximately 240 million dirhams (MDH) for the 2022 financial year and a net current result of approximately 25 MDH.
“The arrival of Ain Ifrane within the Mutandis group would make it possible to constitute a drinks division of more than 350 MDH of turnover, and to benefit from strong operational synergies between the different ranges, in particular in terms of distribution”, specifies Mutandis.