What Cap Holding does

Cap Holding is a Casablanca-headquartered Moroccan industrial holding company founded in 1999 by the Alj family, organized around 27 subsidiaries operating across five business divisions: Milling, Animal Feed, Automotive, Packaging, and Investment. The group is privately held and family-controlled, with a footprint in Morocco and Tunisia and a planned entry into Senegal.

The company operates as a vertically integrated industrial platform anchored in Morocco's agri-food value chain. Its milling division trades approximately 800,000 tonnes of cereals annually and processes around 3.5 million tonnes, serving B2B customers such as Mondelez, Maroc Buns, and Sawamag under ONSSA and ISO 9001/22000/HACCP certifications. The animal feed division is among Morocco's largest producers, while the packaging division spans plastic (Multisac) and, since 2024, kraft-bag production (Polybag). The automotive division runs roughly 22 sales points distributing both legacy and (since 2024 via M-Automotiv Trade) Asian-brand vehicles, and the investment division manages industrial real estate, most notably Bouznika Park Industrie.

Cap Holding monetizes through B2B supply contracts in milling, feed, and packaging, consumer-facing FMCG distribution through more than 7,000 points of sale, automotive vehicle sales and after-market services, and rental/industrial-park revenue from Bouznika. Group turnover is disclosed above 11 billion MAD (~$1.1B+), the workforce exceeds 5,000, and the group continues to deploy capital across acquisitions (Finalog, 2025), joint ventures (Adiwatt renewables), and greenfield expansion (Multisac Senegal, end-2026).

Name

Cap Holding

Legal name

Cap Holding

Website

https://capholding.ma

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cap Holding is a Casablanca-based Moroccan industrial conglomerate operating 27 subsidiaries across milling, animal feed, automotive distribution, packaging, and investment, serving B2B and FMCG customers in Morocco, Tunisia, and planned Senegal.

Ownership category

akta.pro rank

Product category

Diversified Industrial Conglomerate

NAICS

Farm Product Raw Material Merchant Wholesalers (4245), Meat and Meat Product Merchant Wholesalers (42447), Poultry and Egg Production (1123)

SIC

Wholesale-Farm Product Raw Materials (5150)

akta.pro primary industry

Shelf-Stable/Retort Prepared Meat & Seafood Meals (AFANAFAE)

akta.pro secondary industry

Ethnic Meat, Poultry & Seafood Wholesale (AFAIAIAC)

Keywords

• Industrial flour milling
• Automotive vehicle distribution
• Animal feed manufacturing
• Woven polypropylene packaging
• Agrifood conglomerate

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Milling products (flour, semolina): Sale of flour, semolina, and related milling products through subsidiaries SNMM, Moony, LMB, GSB, and MBEM.
2. Automotive distribution: Importation and distribution of vehicles (Renault, Dacia, Alpine, Soueast, JAC Motors, KGM) and pre-owned vehicles (M-Occaz). Revenue: 5.5 billion MAD for M-Automotiv.
3. Packaging materials: Production and sale of woven polypropylene bags, flexible films, and kraft bags. Multisac Maroc generates 625 million MAD in revenue.
4. Animal feed and livestock products: Compound feed for poultry and livestock (Alf Mabrouk), day-old chicks (Fellous Mabrouk), livestock farming (Cicavi), and processed meat products (Foodis).
5. Cereals and pulses trading: Gromic imports and trades cereals and legumes (800,000 tonnes annually) for industrial clients and Group subsidiaries.
6. Renewable energy solutions: Adiwatt Afrique designs and manufactures photovoltaic solar integration solutions for Group operations and external clients.
7. FMCG distribution: G10 distributes fast-moving consumer goods across 7,000+ points of sale nationwide.
8. Logistics and transport services: ACTL operates a fleet of over 50 semi-trailers managing transport of 400,000 tonnes of goods per year.
9. Agrifood (pastries and biscuits): Atelier Croc produces artisanal Moroccan pastries and biscuits, including the Orientines brand, distributed nationally and exported internationally.

Go-to-market motion1 record

Distribution channels7 records

Marketing channels4 records

Core offering

Cap Holding is a diversified Moroccan industrial group that manufactures and distributes flour, semolina, animal feed, processed meat products, woven polypropylene packaging, and distributes new and pre-owned vehicles across Morocco and select African markets. The group operates an integrated agri-food value chain spanning grain import, cereal storage, milling, livestock nutrition, farming, slaughtering, and FMCG distribution, alongside automotive retail and industrial investment activities. Consolidated turnover exceeds 11 billion MAD across 27 subsidiaries and 5,000+ employees.

Product overview

Cap Holding is a diversified Moroccan industrial holding company organized around five business divisions: Milling, Feed, Automotive, Packaging, and Investment. The Milling division (the historical core) encompasses grain trading (Gromic), cereal storage (Ceralog, Finalog), and flour/semolina milling through multiple subsidiaries (SNMM, Moony, Matahine Bab El Mansour, Les Moulins de Berrechid, Grande Semoulerie de Bouskoura), supported by logistics (ACTL) and FMCG distribution (G10). The Feed division covers the full livestock value chain from animal nutrition (Alf Mabrouk), hatchery (Fellous Mabrouk), and farming (Cicavi) to slaughtering and processing (Foodis). The Automotive division distributes vehicles (M-Automotiv for Renault/Dacia/Alpine, M-Automotiv Trade for Soueast/JAC Motors, KGM) and operates the pre-owned market (M-Occaz). The Packaging division produces woven polypropylene and flexible packaging through Multisac (Morocco), SIS (Tunisia), and upcoming Multisac Senegal and Polybag. The Investment division manages renewable energy (Adiwatt), industrial real estate (Bouznika Park Industrie), and logistics platforms (Aljia Distri). The group also markets consumer brands including Moony (flour/semolina), ifoulki, Gato, Perla, Alf Mabrouk, Multisac, Soueast, Dacia, Renault, KGM, JAC, Alpine, and Exeed across its divisions.

Differentiator

Problem solved

Functional benefit

Brands

• MOONY: Flour and semolina brand, one of the major Moroccan household brands.
• MULTISAC
• Alf Mabrouk
• M-Automotiv
• M-Occaz
• Atelier Croc
• Orientines
• G10
• CERALOG
• GROMIC

Products and services

• Gromic - Cereals and Pulses Trading Leader in Morocco in the trading and importation of cereals, pulses, and animal feed grains, with annual import volume of 800,000 tonnes. Serves industrial clients and Cap Holding's own subsidiaries.
• Société Nouvelle des Moulins du Maghreb (SNMM) - Industrial Flour Milling Historic industrial flour mill with three production units and a total crushing capacity of 6,500 quintals per day (650 tonnes/day). ISO 9001 and FSSC 22000 certified. ONSSA approved.
• Moony - Flour and Semolina Brand Flour and semolina consumer product with annual milling volume of 155,000 tonnes, distributed nationally and internationally as one of Morocco's major household brands.
• Matahine Bab El Mansour (MBEM) - Soft Wheat Milling Industrial soft wheat processing unit in Meknes with a crushing capacity of 400 tonnes per day and annual milling volume exceeding 100,000 tonnes.
• Les Moulins de Berrechid (LMB) - Industrial Flour Milling Historic milling subsidiary established in 1951, with a production capacity of 360 tonnes of soft wheat per day and annual milling volume exceeding 100,000 tonnes.
• Grande Semoulerie de Bouskoura (GSB) - Semolina Milling Industrial unit specialized in semolina milling with annual capacity of 84,000 tonnes, complementing the group's durum wheat product range.
• Ceralog - Cereal Storage Services Cereal storage subsidiary with silos across four strategic sites (Berrechid, Bouskoura, Meknès, Casablanca) offering over 182,000 tonnes of storage capacity.
• ACTL - Transport and Logistics Services Group logistics operator managing transport of raw materials with a fleet of over 50 semi-trailers, transporting 400,000 tonnes of goods per year.
• G10 - FMCG Distribution Services FMCG distribution subsidiary operating nationwide with over 7,000 points of sale for a portfolio of recognized brands.
• Alf Mabrouk - Compound Animal Feed Animal nutrition company manufacturing and marketing compound feed for poultry and livestock with a production capacity of 25,000 tonnes per month.
• Fellous Mabrouk - Day-Old Chick Production Hatchery unit in Meknès producing day-old chicks with a capacity of 600,000 chicks per week.
• Cicavi - Livestock Farming Livestock farming company specializing in broiler chickens, turkeys, and cattle across 600 hectares of farms in Bouznika, Mansouria, and Berrechid.
• Foodis - Poultry Slaughtering and Charcuterie Charcuterie and poultry slaughtering company producing 46,000 tonnes of processed products annually at the 33,000 m² Had Soualem facility.
• M-Automotiv - Vehicle Distribution (Renault, Dacia, Alpine) Automotive distribution pillar handling importation and distribution of Renault, Dacia, and Alpine brands with a network of 22 sales points and over 600 employees. Generated 5.5 billion MAD in revenue.
• M-Automotiv Trade - Asian Brand Vehicle Import Exclusive importer for Soueast and JAC Motors in Morocco, offering plug-in hybrid (PHEV) technologies and advanced connectivity.
• KGM - Korean Automotive Brand Distribution

Quantifiable outcome

• Group turnover exceeding 11 billion MAD
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor and core.

• Groupe Label'VieminorStrategic or Co-development Partner · 1 January 2021Atelier Croc (formerly Au Four Gourmet) operates in partnership with Groupe Label'Vie. This partnership transformed the industrial bakery into a broader artisanal Moroccan pastry and biscuit operation, strengthening distribution through Label'Vie retail outlets.
• Adiwatt France (founder of Adiwatt France)coreStrategic or Co-development PartnerAdiwatt Afrique is a joint venture between Cap Holding and the founder of Adiwatt France. The company designs and manufactures exclusive structural integration solutions for photovoltaic solar systems, serving Morocco's energy transition. It equips Cap Holding's operational units and upcoming projects, integrating seamlessly into the Group ecosystem.

Scale indicators16 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Al Mada: Morocco's largest diversified conglomerate (formerly ONA), operating across mining, telecoms, distribution, and real estate. Closely comparable to Cap Holding as a Moroccan family-influenced holding company orchestrating multiple unrelated industrial and consumer verticals through a network of subsidiaries.
• Holmarcom Group: Moroccan diversified group active in agri-business, financial services, and distribution (including Lesieur Cristal and Cristal Union). Comparable to Cap Holding for its Moroccan roots, diversified industrial-agri portfolio, and family-influenced ownership structure.
• Akwa Group: Moroccan family-controlled group with petrochemicals, lubricants, distribution, and media operations. Comparable to Cap Holding as a Moroccan diversified industrial conglomerate with overlapping activity in distribution and energy-adjacent verticals.
• Ynna Holding: Moroccan diversified group spanning real estate (Addoha), construction materials, agri-food, and water infrastructure. Comparable to Cap Holding for diversified Moroccan industrial-agri exposure and similar reliance on integrated subsidiaries.
• Bidvest Group: South African diversified services and industrial group spanning distribution, food, automotive, and freight. Comparable to Cap Holding for its multi-vertical structure, ownership of distribution networks, and significant automotive/food service overlap.

Broad incumbents

• Dangote Group: Africa's largest industrial conglomerate (Nigeria), with cement, sugar, flour, salt, and pasta operations. Comparable to Cap Holding for African integrated food/industrial production, vertically integrated supply chain, and private ownership structure spanning multiple verticals.
• Louis Dreyfus Company: Global commodity merchant and food processor with significant grain, oilseed, and feed operations. Comparable to Cap Holding's Gromic (grain import), Ceralog (storage), and milling divisions for agricultural commodity trading and downstream processing — though substantially larger in scale.

Emerging players

• Astral Foods: South African integrated poultry and feed producer (broilers, animal feed). Comparable to Cap Holding's Feed division (Cicavi, Fellous Mabrouk, Alf Mabrouk, Foodis) for vertically integrated poultry and feed operations at similar scale.
• Tiger Brands: South African branded food manufacturer with milling, baking, and processed meat operations. Comparable to Cap Holding's milling/feed divisions (SNMM, Moony, Atelier Croc/Orientines) for similar product categories and African market focus.
• Sovereign Foods: South African integrated poultry producer (broilers). Comparable to Cap Holding's Cicavi and Foodis operations for African poultry farming and processing at similar regional scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cap-holding

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries27 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cap Holding