The north-western African country is a part of company's goals to increase its pan regional presence
Dubai, May 25, 2022: Hotpack Global, the world's leading manufacturer of disposable food packaging products, announced a regional expansion in Morocco, joining hands with the retail leader of the African nation, Retail Holding through its investment arm, Best Financiers.
The partnership agreement was signed by Mr. Abdul Jebbar P.B, Hotpack Global Managing Director, Mr. Zouhair Bennani, Chairman of Best Financiers, Mr. Abdellatif Merzaq, Director of Samaz (currently President of the new entity) and Mr. Ziad Merzaq, General Manager of Hotpack Global SA Morocco in Morocco in the presence of Mr. Riyad Alaissaoi, Financial Director of Best Financiers.
In a statement, Hotpack said the partnership will lead to an increased presence in the African countries and investment in manufacturing facilities in Morocco.
“Our increased foothold in Morocco is part of our strategic expansion focused on African countries. We have already established a firm presence in African regions, such as Nigeria, Ivory Coast and Morocco too. With our latest expansion plans in Morocco, we are gradually growing our presence in the African countries and expanding our reach into the Europe,” said Mr. Abdul Jebbar.
Mr. Jebbar added, “This partnership will help us penetrate the neighbouring countries and increase our retail market share there. It is also going to enhance our operations in North-West Africa and Ghana.”
The new company, Hotpack Global SA Morocco, earlier jointly owned by Hotpack Global UAE and Samaz Consulting Morocco, will now be able to offer the Moroccan market a wide range of quality packaging products across multiple outlets, as Best Financiers are owners of Carrefour Morocco, Label Vie, Atacadao, Burger King, Kiabi and Virgin Megastore, among others.
“The partnership between Best Financiers and Hotpack Global is a milestone development for the packaging market in Morocco and African countries in general, as it will set new benchmarks for health, safety and quality in this category. The country will also be one of the main manufacturing hubs of Hotpack,” said Mr. Zouhair Bennani, Chairman of Best Financiers.
Best Financiers would also enable Hotpack Global SA Morocco to capture 80% of the food packaging products market in Morocco with Hotpack's healthy, hygienic, and quality approved packaging solutions.
“Hotpack products will stand out in the Moroccan market for their excellence since it comes from manufacturing facilities run by expert and skilled employees who have created best-in-class standards in production and with a customer-centric approach,” said Mr. Abdellatif Merzaq.
Hotpack will soon be expanding to other markets in Africa as part of its Middle East and North Africa (MENA) expansion focus. The company already exports to over 100 countries and the base in the north-western African country will further boost its capacity and export reach.