Undercurrent News
Dubai-based firm Talem Africa has acquired 100% of shares in Morocco’s largest canning facility Silver Food, which sells tuna, mackerel and sardines under consumer brands.
Founded in 2004 and based in Casablanca, Morocco, half of its sales are within the Moroccan market, with the other half set for export to other parts of Africa, the Middle East, Europe and the United States. It sells under the Mario, Silver and Atlanta brands.
Its subsidiary SOPCODA provides fish freezing services, while Silver Fishing operates a 200 metric ton capacity deep-sea fishing vessel. Together, the companies cover the entire value chain in the fish business, and Talem has acquired all three from Anouar Invest, a Moroccan family-owned conglomerate.
“This acquisition is a strategic move towards our goal to create a leading consumer-facing food and beverage player in Africa,” said Honore Dainhi, CEO of Talem Africa.
“Silver Food’s existing business has a solid grounding and provides an excellent platform to further accelerate revenue growth internationally. Our immediate focus will be international business development, especially in Africa and in Europe, and we are confident of being able to at least double the revenues in the next five years”
“We are very serious about our business ambitions in Africa and have some 15 priority countries in Africa for our investments. Currently we are reviewing a number of other acquisition opportunities so as to further diversify and grow our food and beverage business across Africa.”
