Moroccan company Mutandis, a major player in consumer products, and Moroccan distribution and logistics company Dislog Group announced the signing of an agreement on Monday for the sale of the plastic bottles and caps subsidiary of Mutandis founded by Adil Douiri, aptly named CMB Plastique. Dislog will acquire the subsidiary for 330 million dirhams (MAD).
Mutandis called CMB Plastique, “the Moroccan leader in the production of PET preforms [bottles before blowing], with an annual volume of nearly 700 million preforms per year.”
“The transaction will reduce Mutandis’ level of debt and will not have a significant impact on the group’s net current result, as the financial savings will almost offset the contribution of the divested activity to the group’s overall result,” it added.
The company stated that the transaction is expected to be completed during Q1 of 2024, subject to obtaining the approval of Morocco’s Competition Council.