DPI backs CMGP’s acquisition of Moroccan agri-supply firm

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Having invested $100 million in Compagnie Marocaine de Goutte à Goutte et de Pompage (or CMGP), a Moroccan irrigation business, in late 2018, Development Partners International is financing the portfolio company’s acquisition of Comptoir Agricole de Souss (or CAS), an agri-supply company operating in three segments – irrigation, crop protection, and seeds and fertilizers. Tunis-based private equity firm AfricInvest is also participating in the deal, making its first investment in the newly-combined firm as part of the transaction.

The financial details of the all-cash deal, which was steered by CMGP’s management and DPI Partner Sofiane Lahmar and his colleague Jade Del Lero Moreau, were not disclosed. The newly merged firms have a combined turnover of MAD1.6 billion (or approximately $176 million), so the investment must be significant.

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