LabelVie, a Moroccan retail company, will hold an Extraordinary General Assembly (EGA) on November 20, 2026, to discuss the proposed merger with Retail Holding. The merger aims to create a new listed group specializing in multi-brand distribution. The combined entity will be listed on the Casablanca Stock Exchange. LabelVie's shareholders will vote on the proposal, which aims to strengthen strategic and operational coordination between the two companies.
The merger will bring together LabelVie's activities with those of Retail Holding, creating a group with a network of 411 stores across 37 cities. LabelVie operates five brands: Carrefour, Carrefour Market, Carrefour Express, Atacadao, and Supeco. Retail Holding, founded in 2005, manages a portfolio of brands in retail, fashion, food services, and leisure in Morocco and West Africa. The company is the majority shareholder of LabelVie, which is a partner of Carrefour in Morocco.
The proposed merger was announced in May 2026, after the respective boards of directors agreed on the terms of the deal. The merger will involve LabelVie's assets being transferred to Retail Holding, with the value of LabelVie's equity set at 12.46 billion dirhams. The exchange ratio is set at 8 Retail Holding shares for 11 LabelVie shares. Following the merger, LabelVie shareholders will become shareholders of Retail Holding.
The combined entity is expected to achieve significant growth, with projected revenue of 47 billion dirhams by 2030, representing a compound annual growth rate of 16.7% from 2025. The company's Earnings Before Expenses (EBE) is expected to reach 3.8 billion dirhams by 2030, up from 1.7 billion dirhams in 2025. The EBE margin is expected to improve to 8.5% by 2030, from 5.5% in 2025.
The merger is expected to generate significant synergies and cost savings, with the company aiming to improve its competitiveness in the Moroccan retail market. The deal will create one of the largest retail groups in Morocco, with a strong presence in the market. The company's management expects the merger to enhance its strategic and operational capabilities.
Retail Holding's CEO has expressed confidence in the merger, citing the potential for growth and synergies. The company has a strong track record of expansion in Morocco and West Africa, and the merger is expected to further strengthen its position in the region. The deal is subject to shareholder approval and regulatory clearance.
The EGA will be a crucial step in the merger process, with LabelVie shareholders set to vote on the proposal. If approved, the merger will mark a significant milestone in the development of the Moroccan retail sector. The combined entity will be well-positioned to capitalize on growth opportunities in the region.
Key points
- The merger will create a new listed group specializing in multi-brand distribution.
- The combined entity is expected to achieve significant growth, with projected revenue of 47 billion dirhams by 2030.
- The merger is expected to generate significant synergies and cost savings, improving the company's competitiveness in the Moroccan retail market.
