Press release from the Competition Council regarding the economic concentration project concerning the direct exclusive takeover of the company “Nutkao Holding SRL” by the company “Teralys SA” through the acquisition of all its capital and related voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: The company “Teralys SA”;
• The target: The company “Nutkao Holding SRL”;

Nature of the operation

• Takeover of exclusive control.

Economic sectors concerned

• Market for sweet spreadable pastes.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. October 14, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION

The Competition Council has received notification of an economic concentration operation concerning the acquisition by the company “Teralys SA” of the direct exclusive control of the company “Nutkao Holding SRL” through the acquisition of 100% of its capital and related voting rights.

“Teralys” is a Moroccan joint-stock company, whose main purpose is to make long-term investments in structuring projects to support the agri-food industry, particularly in Africa.

“Nutkao Holding” is an Italian limited liability company and the parent company of the Nutkao group specialized in the production and distribution of sweet spreadable pastes and semi-finished products based on cocoa, hazelnuts, and pistachios, intended for the chocolate confectionery and retail trade industries.

 

Done in Rabat, on October 3, 2024.