Mutandis seeks majority stake in Enosis

Mutandis has signed a letter of intent to become the majority shareholder of Enosis, a Moroccan company specializing in household and personal hygiene products. The proposed transaction values Enosis's total capital at 1.7 billion dirhams.

If completed, the integration is expected to add approximately 150 million dirhams in EBITDA to Mutandis, before potential synergies. The combined entity would reach a turnover of approximately 2 billion dirhams, leveraging industrial sites in Berrechid and Jorf Lasfar.

The strategic goal of the merger is to strengthen the Moroccan industrial presence in the hygiene sector to compete against imports from multinational corporations and companies from Turkey and Spain. Furthermore, both groups aim to expand their export footprint into Africa and Southern Europe. The deal remains subject to due diligence and approval from the Competition Council.