Equity private placement subscribed by Spe Capital (formerly Swicorp)

  • Date: July 2015
  • Exclusive financial advisor : Ascent Capital Partners

Transaction Highlights

  • In July 2015, Venezia Ice Group, Morocco’s leading artisanal ice cream and pastry operator, secured a private equity placement from Intaj Capital II, an investment fund managed by Spe Capital (formerly Swicorp)
  • This transaction is part of an ambitious investment program aimed at increasing Venezia Ice’s market share in Morocco and accelerating its international expansion. The funds raised will be used to expand the Group’s production capacity (via construction of new plant) and to expand its distribution network (opening of new points of sale)
  • Intaj Capital II has secured a minority equity stake in the Group, alongside the Bougrine family, through a capital increase of MAD 80 million
  • Ascent Capital Partners acted as exclusive financial advisor to Venezia Ice Group on this transaction

Company overview

  • Venezia Ice Group is the leading Moroccan player in the production and distribution of ice creams, ice cakes and pastries
  • The company was established in 1998 by M. Srirh Bougrine, its current CEO
  • The group currently operates a wide network of 32 points of sale under the “Venezia Ice” brand, of which 8 are self-owned
  • Venezia Ice operates two production units (located in (Bouskoura and Nouaceur), which enable the Group to serve the entire Kingdom of Morocco and other export markets