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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 following « operation summary » containing 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 involved:
- The acquirer: the company “Galaxy Coöperatief U.A.”;
- The target: the company “Africa Feed And Food SA”;
- The historical shareholders: Seven (7) individuals.
Nature of the operation
- Joint takeover.
Economic sectors concerned
- Production of cereals and cereal-based products, poultry farming, animal feed, and packaging bags in the agri-food sector.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e., April 20, 2026.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration project concerning the joint takeover by the company “RNAF III Coöperatief U.A.” via the company “Galaxy Coöperatief U.A.” of the company “Africa Feed And Food SA” through the acquisition of 20% of the shares and voting rights, alongside the historical shareholders.
“Galaxy Coöperatief U.A.” is a Dutch limited liability company, registered with the Chamber of Commerce of the Netherlands under number 99790580, with its registered office at Strawinskylaan 1457, WTC, Tower Ten, 14th floor, 1077XX Amsterdam. The company is an investment vehicle established for the intended operation. It is controlled by the investment fund RNAF III Coöperatief U.A..
“RNAF III Coöperatief U.A.” is a Dutch limited liability company, registered with the Chamber of Commerce of the Netherlands under number 96221402, with its registered office at Strawinskylaan 1457, WTC, Tower Ten, 14th floor, 1077XX Amsterdam. It is an investment fund active in economically strategic sectors in North Africa. The company is managed by “RNAFIII GP B.V.”.
“RNAFIII GP B.V.” is a Dutch limited liability company, registered with the Dutch Chamber of Commerce under number 95201505, with its registered office at Strawinskylaan 1457, Tower Ten, 14th floor, 1077 XX Amsterdam, the Netherlands. It is an investment group active in North Africa in the sectors of consumption, education, health, and financial services.
“Africa Feed And Food SA” is a Moroccan joint stock company, registered with the Trade Register of the Casablanca Commercial Court under number 563869, with its registered office at Casa Business Towers 20th Floor – Tour Anfa Park Offices Cbt-c-201 and Cbt-c-202, Casablanca. It is an integrated Moroccan agro-industrial group active in the flour milling industry through the processing and marketing of cereal-based products, poultry farming, and animal feed. The historical shareholders of the company “Africa Feed And Food SA” do not engage in any economic activities outside of this company and do not hold any controlling interests other than this one, except for the company “Couvoir Oulad Hriz”, whose capital and voting rights are held by certain historical shareholders and which is intended solely to hold real estate assets that will be operated by “Africa Feed And Food SA” following the intended operation.
Done in Rabat, on April 9, 2026.
