Buildings & Logistic Services (BLS), a logistics arm of H&S Invest Holding, has divested its stake in ID Logistics Maroc, a joint venture with French logistics company ID Logistics. The stake sale comes less than a year after BLS acquired La Voie Express, which held a 40% stake in ID Logistics Maroc. Moncef Belkhayat, founder and controlling shareholder of H&S Invest Holding, had acquired La Voie Express in October 2025.
ID Logistics Maroc was a partnership between ID Logistics and La Voie Express, one of Morocco's leading players in express delivery, warehousing, and freight transport. La Voie Express had changed hands in October 2025, becoming a subsidiary of BLS. As part of the divestment, La Voie Express sold its 5,000 shares in ID Logistics Maroc to ID Logistics, which now holds 100% of the company.
The divestment is attributed to the conflict of interest between H&S Invest Holding and ID Logistics Maroc. As a supplier to Label'Veie, a major client of ID Logistics Maroc, H&S Invest Holding's dual role as a supplier and logistics provider raised concerns. ID Logistics Maroc manages storage, procurement, and order preparation for over 400 Carrefour stores.
The sale allows H&S Invest Holding to focus on its core business and avoid potential conflicts with a key client. The stake in ID Logistics Maroc accounted for 10-15% of the total deal value of La Voie Express, which was acquired for MAD 360 million. ID Logistics, a major French logistics player, reported a consolidated revenue of nearly EUR 4 billion.
ID Logistics is a significant player in the logistics industry, serving as a historical and global partner to Carrefour. The company's expansion in Morocco is part of its growth strategy. The divestment by BLS allows ID Logistics to consolidate its operations in Morocco and strengthen its position in the market.
The transaction highlights the dynamic nature of the logistics industry in Morocco, with players constantly adjusting their strategies to optimize their operations. The country's logistics sector has seen significant investments in recent years, driven by growing demand for efficient supply chain solutions.
The exit of BLS from ID Logistics Maroc is not expected to have a significant impact on the company's operations, given the relatively small stake involved. The move allows H&S Invest Holding to focus on its core businesses and pursue growth opportunities in the logistics and distribution sectors.
Key points
- Buildings & Logistic Services sells its stake in ID Logistics Maroc
- Divestment attributed to conflict of interest between H&S Invest Holding and ID Logistics Maroc
- ID Logistics now holds 100% of ID Logistics Maroc
