Adil Douiri, a Moroccan multimillionaire businessman and industrialist, has seen the market value of his investment in Mutandis S.A. fall by $1 million since the beginning of the year, as investors with shares in the company sell down their equity positions.
Mutandis is a Moroccan packaged foods industry leader, with active activities and investments in four consumer goods business categories, including detergents, seafood, drinks and fruit juice sales.
The Moroccan packaged goods company recorded a 20.7-percent rise in revenue from MAD1.4 billion ($146.9 million) in 2020 to MAD1.69 billion ($177.3 million) by the end of 2021, driven by solid sales growth throughout its major operating segments.
Mutandis has grown into a leading player in the Moroccan consumer goods market under the leadership of Douiri, who has a beneficial 6.88-percent stake in the Morocco-based consumer goods firm. In 2021, the company invested MAD486 million ($50.9 million) to acquire its “Season” brand.
Shares in the group were valued MAD250.2 ($25.7) as of press time on March 6, 1.5-percent lower than their starting price on the Casablanca exchange, as investors reduced their positions in the firm.
The company’s shares have declined from MAD268 ($27.53) per share on Dec. 31 to MAD250.2 ($25.7) as of the time of writing this article, resulting in a 6.6-percent loss for shareholders.
According to data tracked by Billionaires.Africa, the market value of Douiri’s shareholding has fallen from MAD147.45 million ($15.15 million) to MAD137.65 million ($14.14 million) between Dec. 31 and March 6.
This equates to a loss of MAD9.79 million ($1.01 million) for the multimillionaire entrepreneur and venture financier.