The EuroMena Funds, on Monday, announced the acquisition of minority stakes in the capital of BS Invest in Tunisia, Cap Retail in Morocco, and Investex Algérie in Algeria (the “Group”). EuroMena III, the latest of The EuroMena Funds, alongside Mediterrania Capital Partners, a private equity fund investing in the Maghreb and Africa regions, have invested in the Group.
Founded in 1997 by Koraich Ben Salem, the Group distributes 11 leading apparel brands including Zara, Massimo Dutti, Bershka, Celio, Jennyfer, Mango, and LC Waikiki from six major international groups (Inditex, Celio International, Benetton Group, Punta Fa, Etam Development and LC Waikiki Mağazacılık).
The Ben Salem Group operates through a network of 76 sales outlets in the key cities of Tunisia, Morocco and Algeria and employs over 1,400 people over the three countries.
The Group plans to open more than 100 stores in the coming years in the malls and downtowns of key areas of the three countries, thus further strengthening its competitive positioning in the market. As part of its investment strategy, EuroMena is working hand in hand with Mediterrania Capital Partners and the management to support the expansion strategy.
This transaction constitutes the second investment of EuroMena III after its recent investment in Nigeria.