The Kapset Group, a Moroccan real estate company, has announced plans to acquire Manar, the country's sole manufacturer of household appliances, and the historic Siera brand. The acquisition, notified to the Competition Council, marks Kapset's entry into the industrial sector and its first major external growth operation. Kapset's subsidiary, Kapset Industries, will take over Manar and acquire the Siera brand. This move aligns with Kapset's diversification strategy and launch of its industrial division.
Founded in 2012, Kapset Group is a fully integrated real estate operator with a presence in various sectors, including tertiary real estate, logistics parks, and hospitality. The group has a strong track record in land origination, financial structuring, construction, marketing, and asset management. With this acquisition, Kapset is set to expand its expertise into industrial engineering, supporting Morocco's industrial sovereignty. The acquisition of Manar and Siera will enable Kapset to create a new industrial branch.
Manar, established in August 1956, is Morocco's sole industrial manufacturer of household appliances. The company operates a 11.5-hectare site in Ain Harrouda, near Casablanca, with 55,000 square meters of covered buildings and nearly 700 employees. Manar has an annual production capacity of several hundred thousand units. Its activities are divided into two pillars under the Siera brand: industrial manufacturing, specializing in refrigeration products, and trading and distribution, marketing a range of complementary imported equipment.
The acquisition of Manar by Kapset Industries aims to accelerate the company's investment program, focusing on enhancing production capacities in refrigeration, deploying new technological lines, and adopting eco-friendly and high-energy performance processes. This move is expected to support the growth of the "Made in Morocco" label nationally and regionally. Kapset's investment in Manar and Siera is seen as a strategic step in the company's diversification and expansion plans.
The Siera brand has a significant presence in Morocco's appliance market, with a range of products including refrigerators, freezers, washing machines, and televisions. The brand has previously launched new products to compete with Korean brands and has explored the African market. With Kapset's support, Siera is expected to strengthen its market position and expand its product offerings.
Kapset's entry into the industrial sector through the acquisition of Manar and Siera marks a significant milestone in the company's growth strategy. The move is expected to create new opportunities for growth, job creation, and economic development in Morocco. The Competition Council will review the acquisition to ensure compliance with regulatory requirements.
The acquisition of Manar and Siera by Kapset Group is a major development in Morocco's industrial sector, with implications for the country's manufacturing and economic growth. The deal is seen as a positive step towards promoting domestic production, supporting local employment, and enhancing Morocco's industrial capabilities. Key aspects of the acquisition include Kapset's expansion into the industrial sector, the preservation of Manar's production capacity, and the growth potential for the Siera brand.
Key points
- Kapset Group to acquire Manar, Morocco's sole appliance manufacturer, and Siera brand.
- Acquisition marks Kapset's entry into industrial sector, supporting Morocco's industrial sovereignty.
- Deal aims to enhance production capacities, promote eco-friendly processes, and support "Made in Morocco" label.
