Morocco’s CMGP Group to Acquire 92.5% of CPCM in MAD 1 Billion Deal
TLDR
- CMGP Group (BVC: CMG) has signed an agreement to acquire 92.5% of Compagnie de Produits Chimiques du Maroc (CPCM) from historical shareholders ABC Holding and Khalid Lahlou
- The acquisition expands CMGP’s footprint in crop protection, water treatment, and industrial chemicals, aligning with its long-term strategy
- This marks CMGP’s third major acquisition after CAS in 2021 and Agrosem in 2024
CMGP Group (BVC: CMG) has signed an agreement to acquire 92.5% of Compagnie de Produits Chimiques du Maroc (CPCM) from historical shareholders ABC Holding and Khalid Lahlou, valuing the target at about MAD 1 billion ($98 million). The company said it may raise its stake to 100% at a later stage.
The acquisition expands CMGP’s footprint in crop protection, water treatment, and industrial chemicals, aligning with its long-term strategy of building a diversified agribusiness platform. CPCM is projected to generate MAD 500 million in revenue in 2025, which would lift CMGP’s consolidated turnover to nearly MAD 3 billion, excluding synergies.
This marks CMGP’s third major acquisition after CAS in 2021 and Agrosem in 2024. The deal, pending approval from the Competition Council, is expected to create strong industrial and export synergies.
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Key Takeaways
CMGP’s acquisition of CPCM represents one of Morocco’s most significant consolidation moves in agribusiness and industrial chemicals. The transaction reinforces CMGP’s strategy of vertical integration — combining irrigation, fertilizer, and chemical production — to strengthen supply resilience and expand exports across Africa. With agriculture contributing roughly 14% of Morocco’s GDP, CMGP’s diversified model positions it as a key enabler of the country’s agricultural modernization and sustainability agenda. CEO Youssef Moamah said the move builds on the company’s ambition to serve “agriculture and beyond,” reflecting a shift toward broader industrial capabilities such as water management and chemical processing. Pending regulatory approval, the acquisition will also enhance CMGP’s competitiveness in regional markets, supporting Morocco’s wider industrial policy goals of developing value-added agricultural exports and local manufacturing capacity.
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