Latest news with #Simmons®
Ya Biladi
10-02-2025
- Business
- Ya Biladi
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.
Zawya
10-02-2025
- Business
- Zawya
Intercoil International and DOLIDOL, a member of AFRICORP Consortium Group, form strategic partnership
The official announcement of the joint venture partnership between Intercoil International and AFRICORP Consortium was made by Hassan Al Hazeem, CEO Intercoil International and Saad Berrada Sounni, Chairman of AFRICORP Consortium during the Integrated Industrial Partnership for Sustainable Economic Development summit in Qatar, February 2025, in the presence of the Ministers of Industry and Trade from both the United Arab Emirates and Morocco, highlighting the strengthening economic ties between the two nations. Dubai, UAE - Intercoil International, a leading UAE-based manufacturer, distributor and retailer of total sleep solutions across the GCC region, today announced a strategic partnership with DOLIDOL, a member of AFRICORP Consortium Group. The alliance was formally announced during the Integrated Industrial Partnership for Sustainable Economic Development summit in Qatar, February 2025, in the presence of the Ministers of Industry and Trade from both the United Arab Emirates and Morocco, highlighting the strengthening economic ties between the two nations. Intercoil International has established itself as a pioneer in promoting "Made in UAE" manufacturing excellence, operating state-of-the art manufacturing facilities in the UAE and Saudi Arabia, and setting industry benchmarks in the production of premium sleep solutions. The partnership brings together two established leaders in the bedding industry. Through its industrial division, AFRICORP Industry, the consortium operates one of Africa's most recognized bedding and foam manufacturing businesses under the Dolidol brand. This integration creates significant opportunities for technological innovation, sustainable manufacturing practices, and market expansion across the Middle East and Africa. Intercoil is the exclusive Middle East licensee for international bedding brands Simmons® and Therapedic®, partnerships spanning 15 and 23 years respectively, demonstrating its long-term commitment to premium quality and market leadership. Hassan Abbas Al-Hazeem, CEO of Intercoil International, said: "In our 50th anniversary year, this strategic partnership represents a significant opportunity for Intercoil's continued growth and development. The combination of our manufacturing expertise with DOLIDOL's industrial capabilities creates substantial opportunities for regional expansion and product innovation." The partnership outlines an ambitious development strategy across four key areas, supported by a planned investment of $55 million over five years: Manufacturing Development: increase in production capacity at the UAE's Ras Al Khaimah plant, alongside a substantial expansion of Saudi Arabian operations through a new integrated manufacturing facility for foam, mattresses, and furniture production. Regional Retail Expansion: Launch of 20 new Intercoil showrooms across strategic locations in the UAE, Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, and Egypt. These showrooms will feature advanced technologies to enhance customer experience. Innovation Leadership: Development of new product lines incorporating smart sleep technology, including AI-powered diagnostics and connected sleep solutions. The R&D program will focus on developing proprietary technologies for comfort and durability. Sustainability Initiatives: Implementation of comprehensive environmental programs, including transition to solar energy at key manufacturing facilities and development of recyclable product lines. The partnership includes collaboration with research institutions to advance eco-friendly foam technologies. Saad Berrada Sounni, Chairman of AFRICORP Consortium, stated: "The strategic partnership between DOLIDOL and Intercoil reflects our vision of an integrated industrial development between Africa and the Middle East. We firmly believe that innovation, sustainability, and industrial excellence are the pillars of this alliance, which will benefit both consumers and the economies of both nations." This partnership marks a significant step in regional industrial integration, creating a strong platform for growth in the Middle East and Africa's sleep solutions sector. The combined expertise and market presence of both companies will drive innovation in sleep technology while setting new standards in sustainable manufacturing across the region. Dubai based boutique advisory firm Trident Consulting ( advised Intercoil and the Al Hazeem family on this transaction. About Intercoil International Established in 1974, Intercoil International is a UAE-based manufacturer, retailer, and distributor of premium sleep products. The company operates three manufacturing facilities: two in the UAE (Dubai and Ras Al Khaimah) and one in Saudi Arabia (Dammam), with a combined annual production capacity exceeding 400,000 mattresses and 10,000 tons of polyurethane foam. The company's product portfolio includes premium beds, bedding products, bedroom furniture, and polyurethane foam. Its manufacturing operations maintain international quality certifications including ISO 9001:2000, ISO 14001, and OHSAS 18001. Intercoil serves more than 50 hospitality clients and 100 corporate clients, including leading hotel chains and real estate developers. The company maintains a strong retail presence across the UAE and GCC region through company-owned stores and an established distribution network. About DOLIDOL Founded in 1972, Dolidol is a member of Africorp Consortium Gropup and an undisputed leader in the polyurethane foam and bedding sectors. With recognized expertise and a network of high-performance production units, the group operates in several African countries and continues its expansion into other strategic regions such as the Middle East. The group has 12 production units across five countries, including Morocco, Côte d'Ivoire since 2016—serving neighboring West African countries such as Ghana, Burkina Faso, Mali, Guinea, and Liberia – Nigeria following the acquisition of Mouka in 2021, and the United Arab Emirates and Saudi Arabia since early 2025. As part of its institutionalization process, Dolidol opened its capital to the private equity fund DPI in October 2018, enabling the company to pursue its development ambitions in line with its international strategic vision. About AFRICORP Consortium AFRICORP Consortium is a diversified business group with over 50 years of experience across multiple sectors including Industry & Distribution, Agriculture, Mining & Quarries, and Education. Through its industrial division, AFRICORP Industry, the group has established leadership positions in several manufacturing sectors. In the bedding and foam sector, its subsidiary Dolidol is a market leader in polyurethane foam and bedding manufacturing, operating ten production units across Africa and the Middle East. Dolidol holds licenses for major international brands and maintains a significant presence across multiple African markets. The group collaborates with leading financial institutions, including the International Finance Corporation (World Bank), Proparco, the European Bank for Reconstruction and Development (EBRD), and has established strong partnerships across various sectors. For media inquiries, please contact: Sama Al Shibani Mojo PR sama@
