eal estate group Kapset has notified Morocco’s Competition Council of its plan to buy 91.2% of the capital of Manar, the national refrigeration and electronics manufacturer that makes Siera appliances. The authority published a summary of the deal on November 12 and is taking comments from third parties until November 23.
The purchase will go through Kapset Industries, a company still being set up, and will take place in two stages, from Sopar and Groupe Karlinah. In between, Sopar will keep a minority stake, without control.
Manar will also buy the Siera brand from Sopar, which it has operated under license until now.
Founded in 1956, Manar presents itself as the only local maker of household appliances. Its plant in Ain Harrouda, near Casablanca, covers 11.5 hectares and employs some 700 people, and Siera claims first place in the national refrigerator market by volume.
Kapset, founded in 2012 and active until now in property development and management, announces investments in refrigeration capacity and new lines of “Total No Frost” refrigerators and fridge-freezers. If the Council approves, Manar will own the brand it manufactures, under the control of a group that came from real estate.
Photo: Bertrand SOUBEYRAND, CC BY-SA 4.0.
Médias24 - Industrie : le groupe immobilier Kapset engage le rachat du fabricant d’électroménager Manar (Siera)
