Moroccan tycoon Youssef Moamah’s CMGP acquires CPCM for $110 million to create chemical-agriculture giant

CMGP Group, the Moroccan irrigation and agricultural-solutions giant founded by multimillionaire Youssef Moamah, agreed to buy 92.5% of Compagnie de Produits Chimiques du Maroc for about MAD 1 billion ($110 million), expanding its reach in the country’s chemical and agritech industries.

The deal, announced this week, gives CMGP control of the Casablanca-listed chemical producer and includes an option to raise its stake to 100%. The purchase still requires approval from Morocco’s Competition Council.

Expansion push

CPCM, founded in 1939, manufactures and distributes chemical inputs used in fertilizers, pesticides, water-treatment and industrial processes. The company is expected to generate about MAD 500 million ($55 million) in revenue next year.

For CMGP, the acquisition could lift group turnover close to MAD 3 billion ($330 million), before any cost or revenue synergies are realized. The purchase follows earlier deals by CMGP, including the 2021 merger with Comptoir Agricole du Souss and the acquisition of Agrosem, as it deepens its presence in crop-protection products, irrigation equipment and industrial chemicals.

“This acquisition reflects CMGP’s ambition to build a sustainable, integrated group serving agriculture and beyond,” CMGP founder and chief executive Youssef Moamah said in a statement. He added that execution and internal alignment will be key to realizing the gains from the tie-up.

A farmer-industrialist

Moamah, 58, started CMGP decades ago as an irrigation-equipment supplier and built it into one of Morocco’s largest players in irrigation, fertigation, solar-powered water systems and agrochemicals.

A turning point came in 2021 when CMGP merged with Comptoir Agricole du Souss, strengthening distribution channels to rural farmers and creating one of North Africa’s leading agri-industrial groups. The merger drew support from private-equity firm Development Partners International, which has described CMGP as a leading pan-African agricultural platform.

Moamah’s fortune has swelled alongside the company’s expansion. Local business media estimate his wealth at several tens of millions of dollars, placing him among Morocco’s wealthiest entrepreneurs. Investors credit him with steering the once-family-run company into a professionally managed, growth-driven business with continental ambitions.

Legacy of CPCM and next steps

CPCM, which holds ISO certification and operates plants in Casablanca and Aït Melloul, has long supplied Morocco’s farming and industrial sectors with key chemical inputs. The stake being acquired comes from ABC Holding and businessman Khalid Lahlou, among other long-time shareholders.

Once regulators approve the takeover, CMGP plans to integrate CPCM’s production, research and compliance operations into its own supply chain. The company says the combination will improve efficiency and widen export channels.

Analysts see the transaction as both a vertical integration and a regional play: bringing fertilizer and chemical production closer to CMGP’s irrigation and farm-services business. If executed smoothly, it could better position the enlarged group to serve Morocco’s growing agricultural economy and extend its footprint across Africa.