AfricInvest, DPI and Tell Group keen for a bite of Sobco-Palmary biscuits

摘要

Chocolate and biscuit manufacturer Sobco-Palmary, owned by the Amranibrothers and Reda Turki, wants to sell up to 20% of its share capital to an investor. At least three venture capital firms have bidto be part of the Sobco group's privatisation,our sources tell us. The first to showinterest in December (AfricaIntelligence,22/12/20), the Tunisian groupAfricInvest was followed by Tell Group andBritish fund Development PartnersInternational (DPI). Sobco, controlled byReda Turki and brothers Abdelkrim Amraniand Ali Amrani, is best known under thename of its brand Palmary, whichrepresents 18% of the high-growth Algerianchocolate and biscuit market. The groupwould like to sell up to 20% of its sharecapital to finance new production lines andhas hired Deloitte to handle the operation.Current bidding puts the group's value ataround $125m, namely six times its EBITDAfor 2019.