MOROCCO – Best Biscuits Maroc, one of Morocco’s leading producers of baked goods, has received 350 million dirhams (US$35.6m) from its parent company, Anouar Invest, aimed to expand its production capacity.
The investment, which is Anouar’s third in the company since 2015, will be deployed in three phases and set to be completed by 2024.
At the end of this deadline, the unit, which currently covers 1.1 hectares, will enable Best Biscuits to double down on offering a more diversified supply of biscuit products that can meet domestic market demand and replace imports.
“This new investment bears witness to the great dynamics experienced by the biscuit sector, within the framework of the program contract for the development of agri-food industries. The Made in Morocco is gaining in quality and competitiveness to assert itself as a world reference,” said Ryad Mezzour, Minister of Industry.
Best Biscuits Maroc employs nearly 1,500 people and markets its products (biscuits, wafers and sponge cakes) mainly under the Excelo brand. Completion of the project is expected to generate 700 new jobs.
In Morocco, the food industry is one of the pillars of the economy. In this branch, several segments such as confectionery, chocolate and biscuits have benefited from significant investments from both the private and public sector.
According to the minister, “Investment in this sector considerably increases national production capacity, strengthens the integration of value chains, creates more jobs and contributes more to food security and the industrial sovereignty of our country”.
Tapping into the growing sector, Edita Food Industries, a leader in the Egyptian packaged snack food market, has inaugurated its first overseas production facility in Morocco.
Edita first entered the Moroccan market in 2019 with its wafer’s exports and currently produces three variations of Edita’s flagship HOHOs brands, with plans to install additional production lines and diversify the product offering in Morocco in the near future.
The new facility is owned and operated by Edita Food Industries Morocco, in partnership with Dislog Group, a leading Moroccan FMCG distributor, both holding 77% and 20% stake in the new entity respectively.
The first phase of the project was tagged at MAD 203 million (US$20.6m), and has so far created job opportunities for over 300 Moroccan citizens since it commenced operations in December 2021.
Edita plans to inject a further MAD 170 million (US$17.3m) for the second phase, which will add an extension of 12,000 square meters and create an additional 400 job opportunities.