On November 20, 2026, LabelVie shareholders will gather to decide on a merger with Retail Holding, a move that will reshape one of Morocco's leading distribution groups. The deal aims to combine the activities of both companies under a single entity listed on the Casablanca Stock Exchange. The net asset value to be transferred is 12.46 billion dirhams. Key figures, including Zouhaïr Bennani, Rachid Hadni, and Riad Laissaoui, will play crucial roles in the new structure.
The merger project has been driven by the goal of strengthening strategic and operational coordination between the group's brands, leveraging shared expertise, and generating new synergies. Retail Holding will become the parent company, with LabelVie transferring its assets, rights, and obligations to the holding. Upon completion, LabelVie will be dissolved without liquidation, and its shares will be delisted from the stock exchange.
The distribution sector in Morocco is highly competitive, with evolving consumer habits and a need for optimized operating costs. The merger is expected to create a more competitive entity through the pooling of functions, expertise, and operational resources. However, the success of the deal depends on the effective implementation of the announced synergies and a suitable governance structure.
Governance will be a critical aspect of the merged entity. Retail Holding already holds a majority stake in LabelVie and has a representative on its board of directors. Zouhaïr Bennani, co-founder of LabelVie, will continue to play a key role, presiding over the Strategic Council and Best Financière, the reference shareholder of Retail Holding. Rachid Hadni, co-founder and president of LabelVie's board of directors, will also maintain his position.
Riad Laissaoui, CEO of Retail Holding, has extensive experience in the distribution sector, having previously served as LabelVie's financial director and deputy general manager. The executive team will be led by Laissaoui, while Naoual Ben Amar will continue as LabelVie's general manager. Hamza Bennani has been identified as the finance pole director by the Moroccan Capital Market Authority.
The merger will not result in the disappearance of LabelVie's activities or brands but will integrate them into a unified structure. Retail Holding will become the listed vehicle of reference, with the holding's governance structure set to ensure the reference shareholder maintains control. However, details on the future governing bodies remain to be finalized.
LabelVie's solid performance in 2025 provides a strong foundation for the merged entity. The company's consolidated revenue reached 18.53 billion dirhams, up from 16.42 billion dirhams the previous year, driven by store openings and network expansion. The acquisition is expected to create a more robust and competitive player in Morocco's distribution sector.
Key points
- The merger will create a single entity with combined activities, strengthening strategic and operational coordination between the group's brands.
- Retail Holding will become the parent company, with LabelVie transferring its assets, rights, and obligations to the holding.
- The deal is valued at 12.46 billion dirhams and is set to be decided by LabelVie shareholders on November 20, 2026.
