Sunday 26 June 2022

Officials after signing the agreement

Hotpack grows its footprint in Morocco with tie-up

DUBAI, May 25, 2022

Hotpack Global, the world’s leading manufacturer of disposable food packaging products, has announced a regional expansion in Morocco, joining hands with the retail leader of the African nation, Retail Holding.
The partnership agreement was signed by Abdul Jebbar P B, Hotpack Global Managing Director, Zouhair Bennani, Chairman of Best Financiers, Abdellatif Merzaq, Director of Samaz (currently President of the new entity) and Ziad Merzaq, General Manager of Hotpack Global SA Morocco in Morocco in the presence of Riyad Alaissaoi, Financial Director of Best Financiers.
In a statement, Hotpack said the partnership with Best Financiers, the investment arm of Retail Holding, will lead to an increased presence in the African countries and investment in manufacturing facilities in Morocco.
Strategic expansion
“Our increased foothold in Morocco is part of our strategic expansion focused on African countries. We have already established a firm presence in African regions, such as Nigeria, Ivory Coast and Morocco too. With our latest expansion plans in Morocco, we are gradually growing our presence in the African countries and expanding our reach into the Europe,” said Jebbar.
Jebbar added: “This partnership will help us penetrate the neighbouring countries and increase our retail market share there. It is also going to enhance our operations in North-West Africa and Ghana.”
The new company, Hotpack Global SA Morocco, earlier jointly owned by Hotpack Global UAE and Samaz Consulting Morocco, will now be able to offer the Moroccan market a wide range of quality packaging products across multiple outlets, as Best Financiers are owners of Carrefour Morocco, Label Vie, Atacadao, Burger King, Kiabi and Virgin Megastore, among others.
Milestone for packaging market
“The partnership is a milestone for the packaging market in Morocco and African countries in general, as it will set new benchmarks for health, safety and quality in this category. The country will also be one of the main manufacturing hubs of Hotpack,” said Bennani.
Best Financiers would also enable Hotpack Global SA Morocco to capture 80% of the food packaging products market in Morocco with Hotpack’s healthy, hygienic, and quality approved packaging solutions.
“Hotpack products will stand out in the Moroccan market for their excellence since it comes from manufacturing facilities run by expert and skilled employees who have created best-in-class standards in production and with a customer-centric approach,” said Merzaq.
Hotpack will soon be expanding to other markets in Africa as part of its Middle East and North Africa (Mena) expansion focus. The company already exports to over 100 countries and the base in the north-western African country will further boost its capacity and export reach.-- TradeArabia News Service


More Industry, Logistics & Shipping Stories

calendarCalendar of Events