Dolidol Eyes African Market Dominance After Mouka $60m Deal
By Adedapo Adesanya
Following its acquisition of top Nigerian mattress brand, Mouka Foam, Moroccan mattress maker, Dolidol, has set its sight on becoming a Pan-African beddings and mattress company by dominating the market.
According to a recent report, the transaction was backed by UK-based private equity firm Development Partners International and was priced at $60 million.
The deal is expected to present an immense growth opportunity, as Dolidol and Mouka Foam will bring together their highly complementary capabilities, banking on the large market share in Nigeria.
Dolidol will also bank on this and more by developing new products for Nigeria’s teeming youth population and growing middle class.
Speaking on this, Ms Sofiane Lahmar, a Partner at Development Partners International said, “As the most populous country in Africa, Nigeria shares many of the same trends as the continent, including positive demographics, a fast-growing middle class and rising consumer spending.”
“Dolidol’s acquisition of Mouka presents an exciting opportunity for growth, creating a greatly expanded addressable market, and enables the business to accelerate its growth in West Africa, while continuing to expand its footprint across the continent.
“We remain confident in the future of the business and look forward to working with both management teams to execute the company’s ambitious strategy and vision,” she further explained.
The Chairman of Dolidol, Mr Saad Berrada, also commented on the deal, describing it as an ‘important milestone’ for the company.
According to him, the deal would help Dolidol to position itself as a regional leader in both North and West Africa.
This will also further the company’s overall ambition to dominate Africa’s growing mattress and beddings market.
It should be noted that Dolidol was established in 1972 and is already present in five Francophone African countries, including Ivory Coast.
Mouka Foam, on the other hand, was established in 1974 and has three factories located across Nigeria.