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UAE’s Invictus buys 60% stake of Moroccan grain trader

Invictus Investment Company, listed on the Abu Dhabi stock exchange, has acquired a 60 percent stake in Graderco, Morocco’s largest grain trader, along with its subsidiaries, from Zalar Holding based in Casablanca.


According to a statement from the UAE commodities firm, the acquisition is expected to yield a 20 percent increase in consolidated revenues during the nine months following the acquisition in 2024. Despite the lack of disclosed deal value, Invictus Investment reported revenues of AED 8.1 billion ($2.2 billion) and handled 5.37 million metric tonnes in commodity transactions in the previous year.


This move aligns with Invictus’s strategic vision of expanding its footprint across key African markets. The company aims to forge new strategic alliances and bolster operational capabilities in downstream sectors.


CEO A Graderco, which recorded revenues exceeding AED 1.5 billion in 2023, is instrumental in importing, storing, and trading 2.5 to 3 million metric tonnes of grain and grain derivatives annually for both human and animal consumption, constituting over a quarter of Morocco’s imports.


In the previous year, Invictus expanded its operations into Morocco and other emerging markets such as Tanzania, Mozambique, Turkey, Malawi, Burundi, and Rwanda. It also saw an uptick in commodity transaction volumes in Algeria and Egypt.


In a recent announcement, Invictus expressed its intention to deploy AED 1 billion through acquisitions and joint ventures in North and East African markets, signaling its commitment to further growth and expansion in the region.


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