Riyadh – Sharikat Mubasher: Mutandis, a Moroccan industrial and commercial group specializing in consumer goods including food & beverage, detergents, and seafood products, plans to enter the Saudi market starting this year as part of its strategy to hit new markets and double its revenues.
Adil Douiri, Founder and CEO of Mutandis told Asharq Business that the company is gradually expanding its marketing efforts in the Gulf region, starting with Saudi Arabia, especially focusing on seafood production.
He asserted that the company started building relationships with distributors in Saudi Arabia to launch marketing campaigns for its fish products starting this year.
Founded in 2008, Mutandis went public in 2018 through a listing on the Casablanca Stock Exchange. The company achieved annual revenues of about MAD2.4 billion ($246 million) in 2023, with net profits of MAD112 million, reflecting a 13% year-on-year growth. Mutandis’ products are distributed across nearly 50 countries worldwide.
According to Douiri, Mutandis operates 11 factories and plans to invest MAD1.5 billion over the next five years to penetrate new markets or acquire brands to help enhance its profits.
The company’s production is mainly based in Morocco, and it markets its products globally.