CDG Capital Private Equity takes a stake in Maymana
CDG Capital Private Equity takes a stake in Maymana, a leading company operating in bakery, pastry, fine stores and high-end catering.
Maymana, a major bakery, pastry, fine grocery and high-end catering company
Founded in 1985 by Mrs. Naima Berrada Benchakroun with the ambition to help empower women in Morocco, Maymana is today a major high-end catering company also operating in the bakery, pastry and fine grocery sectors.
The company has 300 employees of whom 70% are women. Since its creation, the company made sure to preserve both high and constant quality of its products. Committed to its core values for over three decades, Maymana enjoys a strong brand image that lies on its roots in Moroccan culinary traditions coupled with a thinking-forward spirit of its founder.
The company operates a chain of six stores including the flagship store of Rabat, airport stores in Agadir, Marrakech and Casablanca and a retail store in Toulouse, France. Maymana was thus the first Moroccan brand of the sector to expand its retail network outside Morocco. The company makes c.MAD80m of annual turnover among which two thirds come from sales to individual customers and one third from sales to corporate clients, government, embassies and institutions.
A partnership to accelerate the growth of the company
The company aims to pursue its growth and promote its brand in new territories. Majdouline Benchakroun, Maymana’s current general manager and the daughter of the founder Naima Berrada Benchakroun said: “the partnership with CDG Capital private Equity is a turning point in the life of Maymana. We are optimistic regarding the market prospects both locally and abroad and we are confident that, together, we will concretize the development plan of the company and make the brand shine in Morocco and abroad”
Hassan Laaziri, CEO of CDG Capital Private Equity, commented: “we are particularly interested in the bakery and pastry sector given its great potential, especially in the country’s large cities and we are confident that Maymana is the ideal partner to receive our investment in this sector. The privileged position of the company, its sound growth strategy and the expertise of its management permanently seeking perfection are all reasons that make us believe in our partnership with Maymana”.