DLA Piper advises Proparco and RMBV on approximately MAD1 billion capital raise for Africa Feed & Food expansion

Global law firm DLA Piper has advised Proparco, a leading French development finance institution, and RMBV, a North Africa-focused independent investment firm, on an approximately MAD1 billion capital raise for Africa Feed & Food (AFF), a leading integrated agro-industrial group in Morocco.

The transaction supports AFF’s strategic expansion of its agro-industrial capacity and its growth across Morocco and the wider African region and is expected to significantly enhance AFF’s role in regional food security by expanding milling and feed production capacity and strengthening integrated agro-industrial platforms. The transaction aligns with a broader market trend of investor interest in resilient, locally anchored food value chains that address rising demand and supply chain challenges.

Proparco is a development finance institution partly owned by the French Development Agency (AFD) and private shareholders and promotes private investment in Africa, Asia, Latin America, and the Middle East to reach the Sustainable Development Goals (SDGs).

RMBV is an independent investment firm focused on transforming small and mid-sized companies into industry leaders across Egypt and North Africa. The firm focuses on four core sectors including consumer goods and services, education, healthcare, and financial services. 

A cross-border and multidisciplinary team from DLA Piper's Morocco, France, and Netherlands offices worked on the transaction led by Christophe Bachelet, Moroccan Country Managing Partner. He was supported by partners Richard Fens and Manon den Boer (Corporate, Netherlands), and Edouard Sarrazin (Lit&Reg, France). They were supported by legal directors Gaëlle Bouriau, Aad Oomen, Michel Ruhaak, and associates Léa Attias, Laëtitia Badjoko and Louise Riberat.

Christophe Bachelet, Country Managing Partner, Morocco, said: “Proparco and RMBV’s participation in this transaction demonstrates their long‑term commitment to developing sustainable and competitive agribusiness ecosystems in the Kingdom of Morocco and more broadly across Africa. Their capital and sector-specific capabilities will help accelerate AFF’s next phase of growth while advancing broader regional food‑security and economic‑development priorities. Our team was delighted to assist Proparco and RMBV with this strategic investment”.