Dubai: The Abraaj Group said on Monday it has fully exited its investment in Moulin d’Or, a leading producer of baked goods in Tunisia.
The Abraaj Group invested in Moulin d’Or in 2012. Abraaj’s operational and financial support has enabled the expansion of its regional footprint, namely through the creation of a joint venture in Algeria and the increase of exports to Libya.
The company has also built a strong distribution network consisting of 160 independent distributors reaching over 8,000 points of sale.
“We have benefited enormously from Abraaj’s strong investment expertise, its geographical reach across the region and its excellent track record of supporting companies looking to capitalise on demographic shifts,” Suhail Bin Eisa, founder of Moulin d’Or, said in a statement.
The company has grown to become a leader in its industry with more than 200 million cakes being consumed in the past year, contributing to its 47 per cent market share in the cake segment in Tunisia. Moulin d’Or also dominates the cupcake segment, the fastest growing category within the Tunisian baked goods market, with a 67 per cent market share.
The Abraaj Group has invested in over 20 Food & Beverage related businesses globally, including Fan Milk, a leading dairy producer in West Africa, and Libstar, a leading food manufacturer in South Africa.
