Abraaj acquires stake in Moroccan chocolate manufacturer

(MENAFN) Dubai-based Abraaj Group said that it acquired a stake in Moroccan chocolate manufacturer Kool Food, Arabian Business reported. Abraaj said that it plans to draw on its significant investment expertise and strong networks across the MENA region to consolidate Kool Food"s market-leading position in Morocco and advance its international distribution strategy. The Group also looks to improve Kool Food"s offerings with new products in the near term and additional complementary products in the medium term. a Partner at The Abraaj Group said: "Kool Food is well-positioned in the Middle East and North Africa region as a successful local producer of quality chocolate confectionery products affordable to the region"s burgeoning consumer classes."