The Moroccan Beverage Company (SBM), a subsidiary of French beverage company Castel Group, announced that it will not renew its production and distribution license agreement for Heineken products, which is set to expire in December 2023.
SBM, a publicly traded company on the Casablanca Stock Exchange, said that the decision is based on a mutual decision from both partners.
Heineken sales accounted for 17% of SBM’s total sales in 2022, the company said, stressing that this will be taken over by brands from the Castel Group — the second largest brewer in Africa.
SBM was founded in 1919 and was a subsidiary of the SNI Group until 2003, when it was acquired by the Castel Group.
The group is a French industrial group that has been present in the beverage sector since its foundation in 1949.
The group has been producing and marketing “well-recognized and appreciated brands for consumers since 1949,” the company said, noting that the same group “intends to continue developing its locally-rooted brands.”
Sebastien Yves-Menager, CEO of Castel Group said that the decision marks a new chapter for SBM.
“Throughout this partnership, we have learned a great deal from each other,” he said. “SBM has made substantial investments to train its teams and have an industrial facility that meets the highest standards that complies with international standards.”
“For over 100 years, we have offered Moroccan beers brewed and bottled in our Casablanca factory to our consumers,” Yves-Menager added.
The CEO expressed satisfaction with the full support of the group’s shareholders and Castel Group, stressing that he is confident in the company’s future and ability to continue its growth through innovation and the development of iconic brands.
“We will relentlessly strive to satisfy our customers and champion ‘Made in Morocco’,” he added.
A recent report from Insider Monkey has said that nearly 95% of Moroccans do not consume alcohol.
The data also put Morocco in the 11th position on a list of countries that have the leastamount of alcohol consumption.
