Leading Moroccan agricultural company CMGP welcomes Fipar Holding as new shareholder

MOROCCO – Fipar-Holding, an investment company owned by CDG Invest, has acquired a minority stake in CMGP Group, a leading provider of irrigation solutions, agricultural supplies, solar energy, and water infrastructure headquartered in Morocco with operations across North and West Africa.

The kingdom has authorized the deal that will see Fipar take ownership of a 14.81% stake in CMGP for a total consideration of 400 million dirhams (US$36.6m).

The CMGP Group was born out of a merger between the Compagnie Marocaine de Goutte-à-Goutte et de Pompage (CMGP) and the Comptoir Agricole du Souss (CAS) in 2020, creating a champion of the region’s agriculture sector.

Prior to the merger, CMGP was a leading provider of irrigation solutions and water infrastructure with operations across Morocco and West Africa, while, CAS was one of the major players in the agri-supply sector in the North African country, operating in three segments: irrigation, crop protection, and seeds and fertilizers.

The merging of the entities represented an opportunity to create a unique end-to-end, one-stop-shop market leader for farmers in the region, uniquely positioned to deliver sustainable long-term growth.

Following the investment, Fipar-Holdings joins the likes of Development Partners International (DPI), and AfricInvest, among other investors of the company.

For his part, Youssef Moamah, CEO of CMGP Group, said, “CMGP Group has made tremendous progress in executing our strategy since we announced the merger of CMGP and CAS and we remain focused on our continued growth in Morocco and Africa.

“We are also pleased to welcome Fipar Holding to the financing round and look forward to working together to achieve this next phase of growth for the CMGP Group.”

As an active and long-term oriented financial investor, Fipar Holding brings complementary skills, in particular in-depth knowledge of the local market and extensive experience in supporting Moroccan and international groups in the implementation of their development.

Fipar aims to support the development of the agricultural sector in Morocco, which employs 40% of the Moroccan workforce and accounts for 15% of GDP, and in particular the implementation of the “Green Generation 2020-2030” plan.

The plan aims to double the water efficiency of Moroccan agriculture and promote the use of fertilizers and pesticides to help improve agricultural yields and add agricultural value to the economy.

Khalid Ziane, Managing Director of Fipar-Holding, said, “We are pleased to invest in a company that will have a significant impact on economic development by helping improve agricultural yields, increasing rural income, and supporting them to fight against poverty.

“By partnering with Youssef Moamah, DPI and AfricInvest, we will continue to develop CMGP Group by building on their successes over the past few years.

“This growth will ultimately support the development of the agricultural sector in Morocco and the implementation of the national plan “Generation Green.”

Recently, CMGP expanded its reach with the acquisition of stake in Senegalese company Delta Irrigation.

Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE

More News Articles

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.