Tustex learns that the Tunisian-Kuwaiti investment company, Ekuity Capital (ex-CTKD), has just finalized an acquisition by capital increase of the company AZIZA of Retail Trade (Slama group).
Following this transaction, Ekuity Capital will hold 11.24% of the capital of the company. The transaction also saw the acquisition of a stake by the Spanish investment fund Mediterrania Capital Partners (MCP), through its fund MC III. The AZIZA chain of stores, founded in 2014 and managed by Ghassen Slama, has seen the number of its points of sale increase to 250 in five years with a total sales area of more than 70,000 m² spread over the whole of Tunisian territory, which makes it a major player in mass distribution in Tunisia.
The AZIZA chain of stores, which has more than 2,000 employees, is positioning itself on the market with a unique concept of discount with local stores offering quality products at low prices. The acquisition of AZIZA’s capital from Ekuity Capital and MCP aims to support the expansion of the chain, optimize its operations and improve its performance. “We are delighted to welcome Ekuity Capital and MCP as investors in Aziza. We all share the same values: an entrepreneurial spirit that gives priority to creating long-term value. Their support will help continue our development strategy while continuing to provide high quality products at the best prices throughout Tunisia. ”Said Ghassen Slama, founder and CEO of Aziza.
Hichem Ben Hmida, Director in the investment department of Ekuity Capital, added: “Aziza has successfully implemented a unique concept in the Tunisian market with the introduction of the first Discount channel. Thanks to the skills of the team and the organization of Aziza, the latter has achieved an impressive development since its creation in 2014 with the opening of 250 stores throughout the Tunisian territory. We are very pleased to partner with the Aziza and MCP teams to support the development of the Aziza company network, which will have a positive impact on the Tunisian market and economy.
About Ekuity Capital: Ekuity Capital, created in 1976 to promote the Tunisian hotel and tourism sector, is currently one of the largest diversified investment institutions in Tunisia whose primary objective is to create value by developing long-term assets, actively encouraging companies to make investments that generate organic growth and profitability, and by supporting their acquisitions.
Ekuity Capital currently holds interests in a portfolio of more than 20 companies in Tunisia.