Moroccan billionaire Chakib Alj’s Cap Holding has formally notified Morocco’s Competition Council of its plan to acquire a 68% stake in Forafric Maroc, a leading flour and pasta producer.
The deal, if approved, would give Cap Holding exclusive control of the company, which is part of Forafric Agro Industries, a Nasdaq-listed agro-industrial group.
Forafric Maroc has been struggling with heavy debt and declining operational performance, making it a prime candidate for restructuring.
Alj’s move is seen as a strategic opportunity to consolidate his position in Morocco’s grain processing industry.
Cap Holding has already begun shipping grain to Forafric mills in Meknes and Marrakesh, indicating its readiness to assume operational control.
The acquisition would be Alj’s most significant transaction to date, consolidating his position as one of the dominant players in Moroccan grain processing.
Forafric Maroc owns brands like Tria and Maymouna and has operations in Morocco, Burkina Faso, Mali, and Angola.
The company’s financial difficulties have become a sensitive issue in Morocco’s food supply chain, where flour milling touches directly on bread prices and food security policy.
Alj built his fortune in flour milling, starting with Société Nouvelle des Moulins du Maghreb in 1987.
He has since diversified into packaging, poultry farming, logistics, and renewable energy.
The deal is framed as part of a financial restructuring of the Forafric group, which needs new ownership and capital to stabilize its balance sheet and restore confidence among lenders and suppliers.
