Retail Holding and Amethis Acquire the Operations of Overseas Catering Services (OCS) in Morocco and Senegal

January 29, 2026

Retail Holding, a leading Moroccan group in the food and specialized retail sector, and the pan-African fund Amethis MENA Fund II, today announce the acquisition of the operations of the OCS Group in Morocco and Senegal. The Retail Holding/Amethis consortium succeeds investment funds Adenia and Proparco, shareholders of the OCS Group since 2021.

Founded in 2009, OCS operates in the business and community services sector. OCS is a reference player in collective catering in Morocco through its subsidiaries Ansamble and Proxirest, and has diversified since 2023 by entering the facility management market through its subsidiary Artis in Morocco and Alizés in Senegal. The Group generates annual revenue of over one billion dirhams and employs 6,000 people deployed across more than 220 sites throughout the Kingdom. Since 2023, OCS has been led by a strong management team headed by Mr. Nicolas Belleteste, who, with the support of Adenia and Proparco, has contributed over the past few years to doubling the Group’s business volume and consolidating its core activities.

Through this transaction, by which it will become the majority shareholder of OCS subsidiaries, the Retail Holding Group is positioning itself as a leading player in the collective catering and facility management sectors. The Group will leverage its strengths in logistics expertise, extensive territorial presence, and multidisciplinary human capital to capture the full growth potential of the coming years. The rise of strategic industrial sectors in Morocco—reflected in the multiplication of manufacturing and assembly sites, as well as the strengthening of private education and healthcare offerings, among others—is accompanied by an increasingly natural outsourcing of catering and general services. The Group will address this demand through its strong deployment capacity across the Kingdom and its operational excellence recognized by all its institutional and private clients.

“This acquisition, carried out with our long-standing partner Amethis, fully aligns with our external growth strategy, which aims to position us in high-potential markets through the acquisition of leading companies with solid foundations and a core business complementary to ours, offering numerous opportunities for synergies and increased business volumes,” said Mr. Riad Laissaoui, Chairman and CEO of Retail Holding.

“We are very pleased to complete a new investment, our 16th in Morocco, alongside the Retail Holding Group, a historic partner of Amethis and a key player in the private sector in the Kingdom. We share with Nicolas Belleteste and his teams a common and ambitious vision for the OCS Group,” added Wilfried Poyet, Senior Partner at Amethis.

“OCS fully illustrates our approach as an active and committed investor alongside African regional leaders, here within the framework of a succession transaction from a founder. Alongside a management team that we have strengthened, we supported a phase of structuring, refocusing, and scaling up, enabling OCS to establish itself as a reference player in business services. With shareholding now firmly anchored locally, the Group still enjoys, in our view, very strong development prospects,” said Stéphane Bacquaert, Managing Partner at Adenia.

“We would like to thank Adenia and Proparco for their demanding and constructive support. Together, we were able to write an important chapter in the history of this Group, providing it with clarity, strategic vision, and financial strength. This transaction opens a new chapter for us and our employees. We look forward to working with our new shareholders, Retail Holding and Amethis, with the ambition of continuing our growth trajectory and sustainably consolidating our leadership position in Morocco and Senegal,” concluded Nicolas Belleteste, CEO of the OCS Group.

Completion of the transaction is subject to approval by the Competition Council.

About Retail Holding

Retail Holding is a national leader in food and specialized retail, a reference shareholder of Label Vie SA (Carrefour, Atacadao, Supéco) and owner of the Kiabi, Burger King, and Virgin Megastore brands in Morocco. The Group operates a multi-brand network of more than 400 stores across the Kingdom, generates revenue of over 20 billion dirhams, and employs more than 15,000 people. Retail Holding also owns Compagnie de Distribution de Côte d’Ivoire with its 125 stores and has signed a management lease agreement with Carrefour France for the operation of several hypermarkets in France and one Atacadao store in the Paris region.

About Amethis

Founded by Luc Rigouzzo and Laurent Demey, and member of Edmond de Rothschild Private Equity Partnership, Amethis is an impact-oriented private equity firm focusing on financial, environmental and social sustainability across Europe, Africa, and the Middle East.  Amethis has raised more than €1.4 billion and completed over forty investments to date. Amethis provides growth capital to promising mid-sized champions in a variety of sectors, offering growth support through its international network covering Europe and Africa as well as systematic improvement of their environmental and social impacts. With seven offices in Paris, Abidjan, Casablanca, Nairobi, Cairo, Cape Town and Luxembourg, the Amethis team includes 60 experienced professionals with strong regional and sector expertise.

About Adenia

Adenia Partners is a pan-African private equity firm that has raised more than US$1 billion across five funds over more than 20 years, committed to a responsible and sustainable investment approach on the African continent. Sector-agnostic, Adenia supports companies operating in particular in the industrial, retail, distribution, and B2B services sectors. The firm has completed more than 35 investments in Africa and achieved over 20 successful exits.

About Proparco

Proparco is the private sector financing arm of the Agence Française de Développement (AFD) Group. For more than 45 years, Proparco has supported high-growth-potential companies and financial institutions by providing tailored financing and investment solutions, with the objective of promoting sustainable growth, job creation, and the strengthening of local economies. Proparco operates in Africa, Asia, Latin America, and the Middle East, mobilizing financial, sectoral, and extra-financial expertise in support of high-impact projects.