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Development Partners International (DPI), a private equity firm investing across Africa, has purchased stake in Morocco’s mattress maker Dolidol, reports Reuters on Thursday quoting DPI.
DPI bought 20 percent stake in Dolidol for $30 million to help the Moroccan company increase its operations in West Africa, said the private equity in a statement issued today.
«We are predicting that the market (Morocco) will perform strongly in the years to come, underpinned by strong macro-growth, a low deficit and modest debt levels», said DPI Partner Sofiane Lahmar said.
«While there are a number of opportunities across Africa, the biggest opportunity is undoubtedly the sizable and growing middle-class. They are an empowered generation, looking to consume more and more products and services», he explained.
For the record, DPI was founded in 2007 and has more that $1.1 billion assets under management. The Africa-focused private equity «invests in companies throughout Africa, to which we seek to add strategic and operational expertise and be a partner to management», it indicated on its website.
Meanwhile, Dolidol was created in the 1970s by Berrada group. The company has production units and manufactures and polyurethane foam, mattresses, sofas and non-woven textiles.
