UAE’s Invictus buys 60% of Moroccan grain trader 

UAE’s Invictus buys 60% of Moroccan grain trader 

Abu Dhabi-listed Invictus Investment Company has acquired a 60 percent stake in Morocco’s largest grain trader, Graderco and its subsidiaries, from Casablanca-headquartered Zalar Holding.  The acquisition will result in 20 percent growth in consolidated revenues over the nine-month post-acquisition period in 2024, the UAE commodities house said in a statement.  Invictus reported revenue of AED8.1 billion […]Abu Dhabi-listed Invictus Investment Company has acquired a 60 percent stake in Morocco’s largest grain trader, Graderco and its subsidiaries, from Casablanca-headquartered Zalar Holding. 

The acquisition will result in 20 percent growth in consolidated revenues over the nine-month post-acquisition period in 2024, the UAE commodities house said in a statement. 

Invictus reported revenue of AED8.1 billion ($2.2 billion) and 5.37 million metric tonnes in commodity transaction volumes last year. 

The value of the deal was not given.

The acquisition will support Invictus’s long-term strategy to expand its geographic presence in key African markets, develop new strategic partnerships and build operational capabilities in downstream segments.  

“Morocco is a strategic market for us, and this acquisition gives us a strong local presence, which is a key step in our long-term strategy to become a fully integrated agro-food enterprise,” said Amir Daoud Abdellatif, CEO of Invictus Investment.

The company will continue to invest in downstream assets