EuroMena Funds has gained a 7 percent stake in a Moroccan group, Retail Holding, for $22.5 million.
Retail Holding is one of the top retailers in Morocco as it is the owner of LabelVie stores, Carrefour, Kiabi, Virgin Megastore and Burger King.
This new stake in the Morocco retail market puts EuroMena in an excellent position. Retail Holding has 45 stores throughout Morocco.
Additionally, Retail Holding is expected to diversify its portfolio by going outside Morocco, firstly through its new control of CDCI from Cote d'Ivoire.
Retail Holding has also expanded operations to Tunisian and Algerian franchise locations.