(Ecofin Agency) - The Moroccan company Les Eaux Minérales d'Oulmès recently announced the takeover of a Beninese company. Indeed, Eau Technologie Environnement (ETE) fell under the authority of the Moroccan business which acquired 45.79% shares from the Cauris Croissance fund and 9.26% from Christian Mondjanagni, its founder.

With 55% shares in the capital of ETE, Les Eaux Minérales d'Oulmès can now roll out their expansion strategy in sub-Saharan Africa. If Benin represents a market of only 10 million people, its proximity to Nigeria with which it shares a border of 773 kilometres could be a substantial asset for the Moroccan enterprise.

Les Eaux Minérales d'Oulmès is the leader on the Moroccan market for mineral water with 68% market shares. The company has an annual production of over 520 million bottles highlights Medias 24.