Dislog Group has taken a major step forward in its strategic expansion, announcing the full acquisition of Farmalac, a key player in the supply of packaging materials and raw ingredients for the pharmaceutical industry. This deal, structured as a share swap, is part of Dislog’s broader strategy of external growth, aimed at strengthening its presence across the healthcare value chain.
By bringing Farmalac into its portfolio, Dislog is not only expanding its footprint upstream in the pharmaceutical supply chain but also adding a company with a well-established reputation and expertise. Founded in 1997 by the late Luigi Ghizlanzoni, Farmalac has built a strong network among pharmaceutical labs and manufacturers across Morocco. In 2024, the company reported revenues exceeding 251 million dirhams, with roughly 234 million dirhams generated exclusively from its pharmaceutical operations.
In recent years, Farmalac has diversified its offerings. Since 2022, it has entered the lab supplies segment, launching a new line of reagents and laboratory consumables. This newer division alone generated 16.5 million dirhams in sales. Today, the company employs a staff of 40 people.
Following the acquisition, Mounir Serifi has been appointed CEO of Farmalac. Aside from this leadership change, the company’s governance will remain intact, maintaining continuity in management and corporate culture. Farmalac will now operate as part of Dislog Group’s health division, joining an already robust lineup that includes Megaflex, Kosmopharm, Steripharma, Somapharma, Africare, and Dislog Santé.
This acquisition underscores Dislog’s ambition to become a comprehensive force in what it calls the “life economy,” a concept that spans industry, healthcare, hygiene, and food. Its health division is structured into three main business units: pharmaceutical manufacturing, medical devices, and dermo-cosmetics. Dislog now covers the full value chain, from production through to distribution.
For Moncef Belkhayat, Chairman of Dislog Group, the deal signals a new chapter. “This move reflects our determination to strengthen our healthcare division and reinforce our role as a key player in the pharmaceutical sector,” he said. “Farmalac brings unique and complementary expertise that will help us broaden our offerings and better meet market demands.”
Founded in 2005, Dislog Group now employs 3,400 people across Morocco and Europe. The company is a leader in hygiene, health, and food, managing more than 440,000 tons of logistics annually—equivalent to over 552,000 inbound and outbound pallets. With a portfolio of 150 brands, both proprietary and partnered, Dislog has carved out a major role in improving everyday life for consumers.
At the heart of its success is an integrated “Full Service Provider” model that spans the entire value chain—from manufacturing to logistics to distribution. This approach has propelled the group to the forefront of Morocco’s industrial landscape in less than two decades.
The transaction was supported by legal advisor Rachid Hilmi for Dislog Group, while Farmalac was represented by the international law firm DLA Piper.
