Chief Executive Officer of Mouka, Raymond Murphy, has described the acquisition of Mouka by Dolidol, a Moroccan furniture and bedding company, as a boost to the operations of the Nigerian mattress and foam maker.
Murphy said in a statement on Wednesday said the transaction set the scene for bigger and greater things for the Mouka brand with this affiliation with a regional market leader.
He said, “In the light of this new development, Dolidol, a Moroccan market leader in the mattress space, will bring to the fore significant foam science, technical and engineering expertise to Mouka.
“As the market leader in Francophone Africa, Dolidol’s expertise will also be introduced to boost Mouka’s operations and the quality of its product portfolio.”
The Chief Operations Officer, Mouka, Mr Femi Fapohunda, said with Dolidol’s stake in Mouka, consumers and trade partners should look forward to new and ground-breaking innovations due to the technological expertise Dolidol brought onboard.
“In addition, from an operational point of view, we look forward to improved productivity and product quality that meet consumer needs and exceed their expectations,” he added.
Dimeji Osingunwa, Mouka’s chief commercial officer and lead strategist behind Mouka’s distribution of about 2,000 branded outlets nationwide, said, “I believe this strategic ownership will create additional investments in the expansion of the Mouka footprint within Nigeria and beyond our borders.
“I look forward to the synergy between the Mouka and Dolidol in deploying a world-class route to market strategy.”
The Head of Human Resources, Mouka, Ifeoma Okoruen, said the new owners of Mouka had positively commented on the capability of the Mouka team.
“They had nothing but positive comments and compliments to make about the team across all job grade levels. They have also shown keen interest in the growth and development of the Mouka staff,” she said.
The CEO of Dolidol, Mohamed Lazaar, was quoted as saying, “I believe the acquisition of Mouka will allow Dolidol to strengthen its presence in the continent and complement Mouka’s growth in the region with an addressable market of around 200 million Nigerians.”
A partner at Development Partners International, Ms Sofiane Lahmar, said, “As the most populous country in Africa, Nigeria shares many of the same trends as the rest of the continent, including positive demographics, a fast-growing middle class and rising consumer-spend.
“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.”