Middle East : Morocco's Africorp Consortium acquires Intercoil International
Africorp Consortium, a multi-sector holding company with a strong presence in Africa, has reached a new milestone with its industrial division, Africorp Industry. At the beginning of 2025, the group acquired over 60% of Intercoil International - Simmons®, a leading player in the Middle East bedding industry with 50 years of operations in Saudi Arabia, the United Arab Emirates, and 18 other countries. This strategic acquisition marks the group's entry into the Middle Eastern market, securing three industrial facilities in the region.
On February 9 in Doha, Africorp Consortium also signed a bilateral investment agreement with Al-Hazeem Holding Group, Intercoil's minority shareholder, committing $55 million over five years. The agreement, signed at a summit attended by the Moroccan and UAE Ministries of Industry and Commerce, aims to boost production and innovation in the bedding and sleep sector.
A Fast-Growing Global Player
With this acquisition, Africorp Industry—already well known in Africa through its flagship brand Dolidol—becomes a major player in the Middle East & Africa (MEA) region, ranking among the world's top five bedding manufacturers. Intercoil, which holds the Simmons® license in 20 countries across the Middle East and Levant, further strengthens its regional leadership with three production sites in Saudi Arabia and the United Arab Emirates.
Dolidol, present in a dozen African countries—including Nigeria, where it operates four plants—is leveraging this partnership to accelerate growth, modernize infrastructure, and diversify its offerings with innovative, sustainable bedding solutions. The group now holds the Simmons® and Therapedic licenses in 20 Middle Eastern countries, alongside prestigious brands such as Sealy, Tempur, Bultex, Epeda, Merinos, and Pikolin.
A Five-Pronged Strategy
1. Industrial Expansion
Modernization of the Ras Al Khaimah (RAK) plant in the UAE.
50% increase in production capacity in Saudi Arabia.
Establishment of a new manufacturing unit for foam, mattresses, and furniture.
Diversification into the wood furniture sector with a plant dedicated to the hotel market.
2. Commercial Growth & Regional Expansion
Opening of 20 new Intercoil stores in key markets: UAE, Saudi Arabia, Iraq, Oman, Kuwait, Bahrain, Qatar, and Egypt.
Development of intelligent showrooms integrating artificial intelligence (AI) and virtual reality (VR) for an immersive shopping experience.
3. Innovation & Technological Leadership
Investment in research and development (R&D) for AI-driven sleep solutions.
Deployment of smart bedding products with connected sensors.
Expansion of e-commerce and digital marketing strategies to capture new customer segments.
4. Commitment to Sustainability
Establishment of solar-powered production sites in the UAE and Saudi Arabia.
Development of 100% recyclable mattresses.
Collaboration with academic institutions to design eco-friendly foam technologies.
5. Strengthening Brand Positioning
Expansion of the Simmons® brand across the MEA region.
Positioning the project as a strategic Moroccan-Emirati collaboration, backed by the governments of both countries.
A Strong Signal of Economic Cooperation Between Morocco and the UAE
This partnership underscores the growing industrial and commercial synergies between Morocco and the United Arab Emirates. It comes at a time when the Saudi market is undergoing significant transformation, driven by major initiatives such as Neom, the World Expo 2030 in Riyadh, and the 2034 FIFA World Cup, all of which are fueling investment in infrastructure and the hospitality sector.
For Intercoil, which is celebrating its 50th anniversary, this alliance presents a unique opportunity to accelerate growth and diversify its markets. Meanwhile, Dolidol, following its acquisition of Nigerian leader Mouka in 2021, continues to pursue its ambition of becoming a key player in the sleep market across Africa and the Middle East.
About Africorp Consortium
Founded and led by Saad Berrada Sounni, Africorp Consortium is a Moroccan multi-sector group with operations spanning industry, distribution, agriculture, mining, and education. The group collaborates with renowned financial institutions such as the International Finance Corporation (World Bank), Proparco, the European Bank for Reconstruction and Development (EBRD), and Singapore's sovereign wealth fund, Temasek.
Africorp Industry, its industrial division, is a leader in polyurethane foam and bedding across Africa and the Middle East. The group is also active in the automotive industry as a supplier for Renault and PSA and in recycling through its subsidiary Dolicen, which specializes in transforming PET plastic into polyester fibers.
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