SENEGAL – Al Mada, a private equity investment fund, has established Teralys, a subsidiary dedicated to the agri-food sector, carrying out all international operations of the conglomerate in the sector.

Teralys has already completed the acquisition of the pan-African agro-industrial platform Patisen in Senegal.

Founded in 1981 and based in Dakar, Patisen is one of the leaders in the agri-food sector in the African region.

It specializes in the trading, manufacturing, and distribution of consumer food products, including broths, beverages, margarine, spreads, edible oils, and spices, through around fifty brands.

Under the direction of its shareholder and historic founder, Youssef Omaïs, the group has experienced sustained development over the past decades, which has allowed it to shine in more than 30 African markets, with a portfolio of around fifty popular brands.

The transaction will be finalized after obtaining the necessary administrative authorizations, said the press release from Al Mada.

Convinced of the major assets that Senegal presents as an investment destination in West Africa, market analysts view that Teralys’ capital will allow Patisen to consolidate its position as a Senegalese and pan-African leader, and to accelerate its development as a regional platform.

This will also be through the intensification of new product launches and targeted geographic expansion in markets offering the greatest growth potential.

“The project aims to invest in the long term in structuring projects for agribusiness to increase the added value of this sector on the continent and increase regional industrial integration.

“Al Mada thus intends to implement its strategic vision to develop local production on an African continent where climate change is the most important challenge to be met and to offer populations access to healthy, quality and affordable food products,” argues the management of Al Mada through a press release.

Al Mada, one of the biggest investment funds in Africa (present in 27 countries), is practically present in the most strategic sectors: telecoms (operator Inwi), financial services (Attijariwafa Bank), mining (Managem group), mass distribution (Marjane).

For the agro-industry, the royal holding had gradually withdrawn from the sector in Morocco, by selling its shares in Lesieur to the French group Avril, those of Centrale Laitière to Danone, and those of Cosumar (sugar industry) to the Singaporean Wilmar.

 In 2017, Al Mada invested no less than 600 million euros on the African continent (excluding Morocco).

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