Acquisition aligns with Invictus’ strategy of expanding its geographic footprint
Invictus Investment Company, a leading agro-food enterprise in the Middle East, Africa and Asia, recently announced it has completed the acquisition of a 60% stake in Graderco and its subsidiaries from Zalar Holding, following all necessary regulatory and corporate approvals.
Graderco is one of the leading grain and cereal trading firms in Morocco, with over AED 1.5bn in revenues recorded for 2023. The company imports, stores and trades volumes ranging between 2.5 and 3.0mn metric tonnes of grain and grain derivatives for both human and animal nutrition annually, representing over 25% of the country’s imports.
With Invictus Investment 2023 financial results of AED 8.1bn in revenues and 5.37mn metric tonnes in commodity transaction volumes, the acquisition will add significant scale and synergies between the two companies and will result in approximately 20% growth in consolidated revenues for Invictus Investment over the 9-month post-acquisition period in 2024.
Long-term strategy
The acquisition is part of Invictus Investment’s long-term strategy to expand its geographic presence in key African markets, develop new strategic partnerships, and acquire specialised know-how and operational capabilities in downstream segments.
“Morocco is a strategic market for Invictus Investment, and this acquisition gives us a strong local presence and a partnership with a recognised market leader and is a key step in our long-term strategy to become a fully integrated agro-food enterprise,” asserted Amir Daoud Abdellatif, CEO, Invictus Investment.
“Together, we look forward to capitalising on Graderco’s long history as a grain importer operating out of four Moroccan ports and six terminals distributed across the country,” commented Driss Chaouni, CEO, Zalar Holding.
