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Teralys, a subsidiary of Moroccan royal holding Al Mada, has announced the acquisition of Nutkao, an Italian food company specializing in the production of cocoa and milk spreadable creams.
According to a press release by Al Mada on Tuesday, September 24, the transaction will be finalized once the necessary administrative authorizations have been obtained.
Founded in 1982, Nutkao owns production units in Italy, Belgium, and the United States, as well as a cocoa processing plant in Ghana. The company sells its products in 80 countries.
«This acquisition aligns perfectly with TERALYS' strategy for long-term investment in structuring projects for the agro-industry, promoting the development of African resources, and further expanding local production», indicates Al Mada.
This transaction follows the recent 2023 acquisition of Senegalese agri-industrial player Patisen and will enable the implementation of industrial and commercial synergies between the two groups.
Teralys will also pursue Nutkao's development by introducing new products and strengthening its presence in specific markets, particularly in Africa,' it concluded.
