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Retail Holding and Améthis Acquire OCS’s Catering and Facility Management Operations in Morocco and Senegal
Retail Holding, Morocco’s leading food‑distribution group, together with pan‑African private‑equity fund Améthis, announced the acquisition of Overseas Catering Services (OCS) operations in Morocco and Senegal. The deal, which replaces the existing shareholders Adenia and Proparco, gives the consortium a majority stake in OCS’s collective catering and facility‑management businesses, which generate more than MAD 1 billion in revenue and employ 6,000 people across over 220 sites. The acquisition fits Retail Holding’s strategy to expand beyond retail into high‑growth service sectors such as institutional catering and facility management, leveraging its logistics expertise and extensive footprint. Améthis sees the transaction as its 16th investment in Morocco, reinforcing its commitment to African champions with strong ESG credentials.
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Deal Overview
Retail Holding, Morocco’s top food‑distribution group, and the pan‑African private‑equity fund Améthis announced today the purchase of the Overseas Catering Services (OCS) portfolio in Morocco and Senegal. The consortium will replace the current shareholders Adenia and Proparco, who have been owners of OCS since 2021.
About OCS
Founded in 2009, OCS provides services to businesses and public institutions. Through its subsidiaries Ansamble and Proxirest, it is a leading player in collective catering in Morocco. Since 2023, OCS has diversified into facility management with Artis (Morocco) and Alizés (Senegal). The group generates more than MAD 1 billion in annual revenue, employs 6,000 staff, and operates on over 220 sites across the Kingdom.
Since 2023, OCS has been led by a strong management team headed by Nicolas Belleteste, who, together with the support of Adenia and Proparco, doubled the company’s activity volume and reinforced its core business.
Strategic Rationale for Retail Holding
By acquiring a majority stake in OCS’s subsidiaries, Retail Holding positions itself as a key player in both collective catering and facility management. The group will leverage its logistical expertise, massive territorial presence, and multidisciplinary human capital to capture growth opportunities driven by:
- Expansion of industrial sites and assembly plants in Morocco;
- Strengthening of private education and health sectors;
- Increasing outsourcing of catering and general services by public and private institutions.
Retail Holding’s extensive deployment capability across the Kingdom and its recognized operational excellence will enable it to meet the rising demand for outsourced services.
Executive Comments
Riad Laissaoui, CEO of Retail Holding, said: “This acquisition, carried out with our long‑time partner Améthis, aligns perfectly with our external‑growth strategy. We target high‑potential markets by buying solid, complementary reference companies that generate synergies and boost business volume.”
Wilfried Poyet, Senior Partner at Améthis, added: “We are delighted to make our 16th investment in Morocco alongside Retail Holding, a historic partner and a key private‑sector player. We share a common, ambitious vision for OCS with Nicolas Belleteste and his team.”
Stéphane Bacquaert, Managing Partner at Adenia, commented: “OCS exemplifies our active‑investor approach, supporting regional African leaders. With a strengthened management team, we have guided OCS through restructuring and scaling, positioning it as a reference services provider.”
Nicolas Belleteste, CEO of OCS, concluded: “We thank Adenia and Proparco for their demanding and constructive support. Together we have written a solid chapter for OCS, providing visibility, strategic vision, and financial strength. We look forward to working with our new shareholders Retail Holding and Améthis to continue our growth trajectory and cement our leadership in Morocco and Senegal.”
Regulatory Note
The transaction awaits clearance from the relevant competition authorities.
About Retail Holding
Retail Holding is a national leader in food and specialized retail, a cornerstone shareholder of Label Vie SA (Carrefour, Atacadao, Supéco) and holder of the Kiabi, Burger King and Virgin Mégastore brands in Morocco. The group operates a multi‑brand network of over 400 stores, records more than MAD 20 billion in revenue, and employs over 15,000 people. Retail Holding also owns the Côte d’Ivoire Distribution Company (125 stores) and has signed a lease‑management contract with Carrefour France for several hyper‑markets in the French market.
About Améthis
Founded by Luc Rigouzzo and Laurent Demey and a partner of Edmond de Rothschild Private Equity, Améthis is an impact‑focused investment fund targeting financial, environmental, and social sustainability across Africa and Europe. With assets under management exceeding €1.4 billion, the firm has completed more than 40 investments, providing growth capital to promising mid‑size champions across sectors and improving their ESG performance. Améthis operates from seven offices (Paris, Abidjan, Casablanca, Nairobi, Cape Town, Cairo, Luxembourg) with a team of over 60 professionals.
About Adenia
Adenia Partners is a pan‑African private‑equity firm that has raised over $1 billion across five funds in more than 20 years. The firm follows a responsible, sustainable investment approach, has made over 35 investments in Africa, and completed more than 20 successful exits. Adenia operates from seven offices on the continent, focusing on control‑level investments and active partnership with management teams.
About Proparco
Proparco, the private‑sector financing arm of the French Development Agency (AFD), has supported high‑growth companies and financial institutions in developing countries for over 45 years. By delivering tailored financing and investment solutions, Proparco aims to foster sustainable growth, job creation, and stronger local economies across Africa, Asia, Latin America, and the Middle East.