A Moroccan private equity firm has acquired equity stakes in Moroccan fertilizer and agrichemicals distribution company Agri Trade Maroc SA (ATM).
Casablanca-based CDG Invest Growth (CIG) acquired the stakes in ATM through Morocco’s Capmezzanine III Fund, according to a Morocco World News report, citing a company statement. No details on the size of the shareholdings or the amount of equity participation were disclosed.
“ATM is a prominent player in the fertilizer distribution industry in Morocco, and will leverage the capital injection to bolster its activities in conventional and specialized fertilizers, enhance its market share, and pave the way for the establishment of a dedicated ‘Made-In-Morocco’ fertilizer marketing platform in Africa,” the company said.
ATM Chairperson Nadia Tarari, as cited by the report, said the capital injection will provide necessary funding for planned expansions by the company within Morocco and into other regions in Africa, “where it aspires to establish a stronger presence.”
The capital investment will enable ATM to proceed with its investment projects, upgrade its infrastructure, and upskill its teams, according to ATM General Manager Abdelkbir Moutawakkil.