date:Sep 13, 2012
Kraft Foods has acquired the remaining 50% stake not already owned in Biscuiterie Industrielle du Moghreb (BIMO), a leading biscuits manufacturer in Morocco.
Kraft reached a $152.2 million (MAD 1.31 billion) deal with the Socit Nationale d'Investissement.
Kraft Foods sees BIMO as an important part of its future Middle East and Africa strategy, said the company in its release.
Kraft had held a joint venture with Bimo for several years, but has decided to tackle the market alone.
The deal is s