RH Africa

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Retail Holding (together with its subsidiaries the “Group” or “RH”) is a leading retail group in Morocco, majority  shareholder in several companies. It is a holding company without operations and thus – it operates through its subsidiaries. Key Operating Subsidiaries  (a)   Label’Vie Morocco (LBV, https://www.labelvie.ma/en/): This is RH’s flagship asset listed on the Casablanca Stock Exchange). LBV is a leading food retailer in Morocco with more than 200k square meters of retail space. LBV operates 120+ supermarkets, markets, gourmet and hypermarkets under a multi-national brand in addition to 10+ cash-and-carry stores and a network of mini markets in gas stations. (b)   Aradei Capital: Aradei real-estate investment vehicle has 29 assets in 15 Moroccan cities and is listed on the Casablanca Stock Exchange. LBV is its largest shareholder and together with Best Financière account for the majority of Aradei’s occupied gross leasable area. (c)   CDCI: In 2014, RH acquired a stake in Ivory Coast Distribution Company (“CDCI”), a leading food retailer and a large distribution group of Cote d’Ivoire (fully owned since 2020), operating under three formats: wholesale, semi-wholesale, and retail through its proximity discount line King Cash. CDCI has 122 outlets spread across 41 cities.  Other RH’s subsidiaries:  (d)   Mode & Nuances: specialized in the distribution of textile through the franchise Kiabi, with 18 stores in 11 cities.(e)   GFFS: the franchisees of Burger King; and (f)    The franchisee of the brand “Virgin” in North Africa, through its subsidiary Mega V. Stores Morocco (8 stores in 4 cities).(g)   RH also has a presence in France through its subsidiary RH Europe. The proposed project is an approximately $56m investment (for IFC own account) (“the Project”) :•         MAD 410m (c. $41m) to partly purchase RH share from exiting shareholders; and•         $15m to finance RH’s organic expansion plan in Cote d’Ivoire through its subsidiary, CDCI.