Groupe SEB has signed an agreement with Preciber, a family-company in Morocco owned by Mohammed Berrada and Precima. The partnership led to the creation of the joint venture Groupe SEB Maroc, which is 55% controlled by Groupe SEB.
Founded in 1971, Precima, of which Berrada is a founder, is active in three main areas: the manufacture and distribution of cooking appliances such as pressure cookers under the EXPRESS brand, the manufacture and distribution of gas appliances, and the marketing of water heaters and boilers.
«Relying on a strong local partner such as Preciber – Groupe SEB commented – will enable us to accelerate the development of sales in Morocco and to make the most of the strong potential of this market». Groupe SEB Maroc will import and distribute exclusively Groupe SEB products in Morocco (small household appliances and cookware), as well as distribute EXPRESS brand pressure cookers in modern distribution.
«At the same time, Groupe SEB has invested via SEB Alliance in the CathayAfricInvest Innovation fund to identify start-ups active on the African continent in line with its innovation policy. This fund is one of the largest of its kind in Africa. After the establishment of a joint venture in Egypt in 2018, Groupe SEB thus confirms its desire to have a strong foothold in Africa» – the Group conclued.