Moroccan consumer goods group Mutandis and household hygiene company Enosis have signed a letter of intent under which Mutandis would acquire a majority stake in Enosis and its subsidiaries, Challenge reports. Enosis, founded by Anwar Radi, ranks among Morocco’s leading players in home hygiene products, a sector Mutandis is also active in, with Enosis known to consumers for its Moi and Zen brands.
Under the proposed transaction, Enosis is valued at 1.7 billion dirhams for 100 percent of its capital. The acquisition is expected to add approximately 150 million dirhams in EBITDA to Mutandis before accounting for potential synergies between the two companies, a figure that underscores the scale of the household hygiene business Enosis has built under its Moi and Zen brands. Once combined, the two groups would generate roughly 2 billion dirhams in revenue within the home and personal care category, operating two industrial sites, one in Berrechid and another in Jorf Lasfar, giving the combined entity manufacturing capacity spread across two of Morocco’s established industrial hubs.
The tie-up between Mutandis and Enosis is intended to build a national industrial player better positioned to substitute for hygiene product imports from multinationals as well as Turkish and Spanish companies, particularly in personal care. The combined entity would also be better equipped to expand its export presence, notably in Africa and southern Europe, as the deal brings together two established Moroccan names in a consumer category long dominated by imported products and multinational brands.
