Moroccan Firms Expanded Into European Markets
Large Moroccan corporations accelerated their growth by acquiring stakes in several European companies since 2023.
Updated on Sept. 29, 2026 in Business Strategy
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Moroccan companies, typically with annual revenue exceeding one billion dirhams, have aggressively pursued external growth by acquiring stakes in European firms. This trend, highlighted by the June 2026 acquisition of Swiss firm Rivopharm by Laprophan, signals a shift in corporate expansion strategy.
Why it matters
Expanding into Europe allows Moroccan businesses to better leverage existing trade dynamics, as the European Union accounts for 65% of Morocco's total external trade. These acquisitions provide firms with deeper access to established markets and diversified product portfolios across the continent.
Recent high-profile deals include Teralys's nearly €450 million agreement to acquire Nutkao and the €80 million purchase of a stake in Boluda Maritime Terminals. Rivopharm, acquired for an undisclosed amount, generates annual revenue of approximately €100 million.
The players
Laprophan
This Moroccan pharmaceutical company specializes in developing and distributing health products and completed its acquisition of Rivopharm in 2026.
OCP
OCP is a major Moroccan phosphate producer and global leader in the fertilizer industry that has actively invested in European agriculture firms.
Teralys
Teralys is a Moroccan investment firm that agreed to acquire the Italian food processor Nutkao in a deal valued at nearly €450 million.
HPS
HPS is a multinational provider of payment solutions that acquired the Irish company CR2 Limited in August 2024.
Marsa Maroc
This company operates port terminals in Morocco and moved to acquire a 45% stake in Boluda Maritime Terminals in December 2025.
The details
Moroccan companies are prioritizing international expansion through targeted stakes in European enterprises to bolster their regional footprint. The deals range from technology and maritime logistics to chemical processing and pharmaceutical manufacturing.
Timeline
2018: OCP entered Fertinagro Biotech.
2019: OCP and Fertinagro Biotech created a joint venture.
2023: OCP acquired a 50% stake in Global Feed.
August 2024: HPS acquired Ireland-based CR2 Limited.
June 2026: Laprophan completed the acquisition of Swiss firm Rivopharm.
Market Landscape
These acquisitions align with the broader strategy of Moroccan firms to capture more value from the European Union, which accounts for 15.8% of world trade. By integrating European assets, these companies are shifting from domestic-only operations to competitive international players.
For customers and clients, this international expansion may result in more unified service delivery and product availability across both European and African markets. Investors should monitor how these cross-border acquisitions affect the long-term balance sheets of the Moroccan entities involved.
The takeaway
The trend of Moroccan firms acquiring European counterparts highlights an intentional move toward greater international market integration. Businesses looking to scale globally should evaluate how these cross-border mergers impact their own supply chains and competitive positioning.
Further reading
Learn more about the latest developments in Business Strategy that are shaping international trade.
Source note: This article includes information reported by North Africa Post.
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