The acquisition of Mouka by Dolidol, a Moroccan furniture and bedding company, will boost the operations of the Nigerian mattress and foam maker, according to Mr Raymond Murphy, Chief Executive Officer of Mouka.
In a statement issued on Wednesday, Murphy stated that the transaction “sets the stage for bigger and greater things for the Mouka brand with this affiliation with a regional market leader.”
“In light of this new development, Dolidol, a Moroccan market leader in the mattress space, will bring significant foam science, technical, and engineering expertise to Mouka,” he explained.
“Dolidol’s expertise, as the market leader in Francophone Africa, will also be introduced to boost Mouka’s operations and the quality of its product portfolio.”
“I believe this strategic ownership will create additional investments in the expansion of the Mouka footprint within Nigeria and beyond our borders,” said Dimeji Osingunwa, Mouka’s chief commercial officer and lead strategist behind Mouka’s distribution of about 2,000 branded outlets nationwide.
“I am excited to see how the Mouka and Dolidol can work together to implement a world-class route to market strategy.”
Ifeoma Okoruen, Mouka’s Head of Human Resources, stated that the new owners of Mouka had positively commented on the capability of the Mouka team.
“Across all job grade levels, they had nothing but positive comments and compliments to say about the team.” “They have also shown a strong interest in the growth and development of the Mouka team,” she added.
“I believe the acquisition of Mouka will allow Dolidol to strengthen its presence in the continent and complement Mouka’s growth in the region with an addressable market of around 200 million Nigerians,” Dolidol CEO Mohamed Lazaar was quoted as saying.
Ms Sofiane Lahmar, a partner at Development Partners International, stated, “As Africa’s most populous country, Nigeria shares many of the same trends as the rest of the continent, including positive demographics, a rapidly growing middle class, and rising consumer spending.”
We remain optimistic about the company’s future and look forward to working with both management teams to carry out the company’s ambitious strategy and vision.”