Major Moroccan fish canner gets acquired

Africa-focused company Talem Africa has purchased all shares of Morocco’s largest fish canning facility, Silver Food, as well as its two wholly-owned subsidiaries SOPCODA and Silver Fishing.

Taken altogether, the three companies now under Talem’s arm encompass the entire value chain in Morocco's fish business. Silver Food – which was founded in 2004 and has since been stationed in Casablanca, Morocco – is a producer of canned tuna, mackerel and sardine products in the Moroccan market and beyond. Approximately half of Silver Food sales occur in the Moroccan market, while the remaining half involve exports to other areas of Africa, the Middle East, Europe and the United States. Meanwhile, SOPCODA offers fish freezing services and Silver Fishing operates a 200-ton capacity deep-sea fishing vessel.

The acquisition of the company plays into Talem’s “goal to create a leading consumer-facing food and beverage player in Africa,” according to Honoré Dainhi, CEO of Talem Africa.

“Silver Food’s existing business has a solid grounding and provides an excellent platform to further accelerate revenue growth internationally. Our immediate focus will be international business development, especially in Africa and in Europe, and we are confident of being able to at least double the revenues in the next five years,” continued Dainhi.

Talem doesn’t intend to stop at Silver Food – Dainhi said the company is looking into “a number of other acquisition opportunities so as to further diversify and grow our food and beverage business across Africa.”

“We are very serious about our business ambitions in Africa and have some 15 priority countries in Africa for our investments,” Dainhi concluded.

Silver Food distributes its canned fish under three brands: Mario, Silver and Atlanta.

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