Asafo & Co with Growthgate and Euromena III on their exit from Retail Holding

Asafo & Co advised Growthgate Capital Corporation and Euromena III on their recent exit from Retail Holding, a leading Moroccan retail company operating across Morocco, France, and Côte d’Ivoire, and the subsequent reconfiguration of the company’s shareholding structure.

Asafo & Co’s team

Partner Patrick Larrivé (pictured) led Asafo & Co team, assisted by associates Martin Van Box Som and Rachid Noor.

About the exit

Retail Holding, which owns 51% of Label’Vie, a publicly traded entity on the Casablanca Stock Exchange, has made a significant shift in its shareholder structure with the exit of its historic investors Growthgate Capital Corporation and Euromena III and the entry of Fipar-Holding, a subsidiary of CDG (Moroccan State), the International Finance Corporation (IFC) and the private equity fund, CDG Invest Growth.

With this new shareholder configuration, Moroccan-based Retail Holding, which already manages brands including Carrefour, Carrefour Market, and Burger King, is well-positioned to continue expanding both locally and across the continent, while further solidifying its presence in Europe.

RedMed Capital – financial advisors

RedMed Capital Corporate Finance acted as financial advisor to Growthgate Capital Corporation and Euromena III with Abdeslame Ababou (Chairman and Founder Partner), Amine Alami (Partner) and Hélène Catteau (Senior Associate).