The International Finance Corporation (IFC), in collaboration with Fipar-Holding and CDG Invest Growth, announced a significant investment in Retail Holding, aiming to enhance access to quality and affordable food products in Morocco and Côte d’Ivoire. This strategic move follows the signing of a decree by Moroccan officials Aziz Akhannouch and Nadia Fettah, facilitating Fipar-Holding’s acquisition of a 12.3% stake in the company.
According to a joint statement, IFC, Fipar-Holding (managed by CDG Invest), and CDG Invest Growth (via the Capmezzanine III fund) will collectively own 21.5% of Retail Holding’s capital, alongside existing shareholders Best Financière and Sanam Group (through VCR Logistics). Retail Holding, led by CEO Zouhair Bennani, plans to use this partnership to expand its operations across Morocco and Côte d’Ivoire, particularly in underserved regions, with the goal of creating jobs and strengthening local food supply chains.
Beyond financial backing, IFC will provide Retail Holding with advisory services on environmental and social best practices, with a focus on advancing women’s access to career opportunities, including recruitment and talent retention initiatives.
Riad Laissaoui, CEO of Retail Holding, expressed gratitude to the Growthgate and Euromena funds for their support over the past seven years. He welcomed the arrival of Fipar-Holding, CDG Invest Growth, and IFC, emphasizing their role as key institutional players in the company’s next growth phase. “Their strong expertise and long-term commitment will be crucial as we strive to achieve our ambitions of becoming a leading distributor, both in Morocco and internationally,” Laissaoui remarked. He further highlighted the strategic importance of this investment, which will open doors for Retail Holding to diversify its product offerings and innovate its services to better meet consumer needs. “Together, we are committed to making a positive impact on the community and modernizing the distribution sector,” he added.
Khalid Ziane, Managing Director of Fipar-Holding, expressed enthusiasm about the investment, praising Retail Holding’s significant economic and social contributions by providing affordable, high-quality products to wider populations. He also emphasized the group’s plans to expand its geographical footprint and develop new segments such as e-commerce.
Hassan Laaziri, CEO of CDG Invest Growth, echoed these sentiments, stating that the collaboration will support the ambitious vision of Retail Holding by offering modern and accessible stores tailored to the needs of Moroccan citizens. “Our goal is to ensure that consumers have access to the right products, at the right price, in the right place, and at the right time,” Laaziri said. He stressed that the partnership provides an opportunity to transform the consumer experience and create a more inclusive future.
David Tinel, IFC’s regional representative for the Maghreb, also highlighted the key role of the private sector in boosting the food distribution industry and contributing to regional food security. He reaffirmed IFC’s commitment to supporting Moroccan businesses as they expand their footprint in Africa.
Retail Holding, the main shareholder of Label’Vie, which is listed on the Casablanca Stock Exchange, operates well-known brands like Carrefour, Carrefour Market, Atacadão, Kiabi, Burger King, and Virgin. In Côte d’Ivoire, the company owns the Compagnie de Distribution de Côte d’Ivoire (CDCI), a leading food distribution player.
Furthermore, Retail Holding has expanded its activities into France. The IFC’s investment includes both equity in Retail Holding and a loan of over 9 billion CFA francs (approximately 15 million dollars) to support the growth of CDCI in Côte d’Ivoire.
Fipar-Holding and CDG Invest Growth are committed to supporting Retail Holding in executing its growth strategy and realizing its international expansion ambitions. This move follows the exit of Growthgate and Euromena, which had supported Retail Holding for over seven years.
In addition, Fipar-Holding, wholly owned by CDG Invest, raised its capital by 300 million dirhams in June, bringing its total capital to around 4.18 billion dirhams.
