(Ecofin Agency) - Edita Food Industries, number one of Egypt’s snacks market, has announced that it signed with the Moroccan retailer Dislog a Joint Venture agreement (51% interest for Edita and 49% for Dislog) to enter the Moroccan market.

With this new alliance, the Egyptian firm will be able to export, starting from 2018, its goods to the Cherifian Kingdom and supply consumers via Dislog’s distribution network which counts more than 65,000 sale points.

Moreover, the deal will lead to the construction in 2019, of a modern manufacturing plant in Morocco. This, for an initial investment of $10 million.

“This partnership is a new exciting step in our transition from our status of leading manufacturer in our local market to that of a competitive regional actor. Morocco is a very attractive market given its strong demand and the significant growth potential it presents regarding our sectors of activities,” said Hani Berzi, CEO Edita Food.  

Let’s recall that Edita Food operates in the croissants, cakes and fine breads segments. At the end of the third quarter of its fiscal year on September 30, 2017, the firm had generated a turnover of $47.2 million.