In a statement issued on Sunday, the company listed on the Casablanca Stock Exchange indicates that the offer concerns 100% of the shares of the company Euro Africaine des Eaux, owner of the Ain Ifrane brand, as well as the distribution of its products. This offer was accepted by the Société des Boissons du Maroc.
Mutandis expects this acquisition to contribute to its annual consolidated net income close to 30 million dirhams.
After taking into account the interest on the acquisition debt, the impact on the consolidated net income of Mutandis should be an improvement of approximately 15% of the latter.
The Ain Ifrane brand is well known to Moroccan consumers, appreciated and renowned for the excellence of its spring water. Its arrival within Mutandis would make it possible to create a drinks division with more than 350 million in turnover, made up of Marrakech and Ain Ifrane, and to benefit from strong operational synergies between the two ranges, particularly in terms of distribution.
The offer is subject to a certain number of conditions precedent, in particular the signing of the definitive transactional documentation and the obtaining of the regulatory authorizations required for the completion of the transaction. The parties aim to complete the transaction by June 30, 2023.
