The deal was backed by the Development Partners
International (DPI), an investment firm focused on Africa with $2.8bn assets
under management, including co-investments on December 1, 2021.
The signing of Dolidol’s acquisition of Mouka, creating a
regional champion and leader in the African bedding and mattress industry.
The $60m transaction according to DPI, creates market
leading player in Africa in the bedding and mattress industry, possessing world
class manufacturing capabilities.
Founded in 1974, Mouka is an established manufacturer of
polyurethane foam products and mattresses in Nigeria, with strong brand
recognition and best-in-class manufacturing capabilities with three factories
strategically located in the country.
Mouka was the first foam manufacturing company in Nigeria to
offer a quality warranty non mattresses and other polyurethane products. It’s
ability to maintain consistency is due to the combination of the latest
technology and the determination of the people to add comfort to life everyday.
The business is led by a highly experienced management team,
headed by current CEO, Ray Murphy, who has helped drive the growth of the
company in Nigeria since joining in 2015.
Chairman of the Moroccan
mattress maker, Saad Berrada said, “We are looking
forward to partnering with Ray Murphy and his management team as we focus on
achieving our expansion strategy across the continent,” Berrada said.
Sofiane Lahmar, DPI Partner, said, “We remain confident in
the future of the business and look forward to working with both management
teams to execute the company’s ambitious strategy and vision.”
0 comments:
Post a Comment