Dolidol an international firm has acquired Mouka Foam in a $60 million (N24.9 billion) deal to create pan-African bedding and mattress.
The deal was backed by the Development Partners International (DPI), an investment firm focused on Africa with $2.8bn assets under management, including co-investments on December 1, 2021.
The signing of Dolidol’s acquisition of Mouka, creating a regional champion and leader in the African bedding and mattress industry.
Founded in 1974, Mouka is an established manufacturer of polyurethane foam products and mattresses in Nigeria, with strong brand recognition and best-in-class manufacturing capabilities with three factories strategically located in the country.
Mouka was the first foam manufacturing company in Nigeria to offer a quality warranty non mattresses and other polyurethane products. It’s ability to maintain consistency is due to the combination of the latest technology and the determination of the people to add comfort to life everyday.
The business is led by a highly experienced management team, headed by current CEO, Ray Murphy, who has helped drive the growth of the company in Nigeria since joining in 2015.
Chairman of Dolidol, Saad Berrada said, “We are looking forward to partnering with Ray Murphy and his management team as we focus on achieving our expansion strategy across the continent,” Berrada said.
Sofiane Lahmar, DPI Partner, said, “We remain confident in the future of the business and look forward to working with both management teams to execute the company’s ambitious strategy and vision.”
– Punch