Mediterrania Capital Partners, in partnership with Ekuity Capital, has acquired a stake in Aziza, a Tunisian supermarket chain with 250 stores across the country. The deal value has not been disclosed. Aziza will use the stake to continue its rapid expansion programme.

Aziza was founded in 2014 by the Slama family, which has interests in food processing through its Slama Group. Aziza is a top 5 supermarket player in Tunisia with 70,000m² of retail space. Stores average 280m² and are ‘no frills’ – operating in the same space as Turkey’s BIM (which operates in Morocco and Egypt) and going up against Magasin Général’s convenience formats in Tunisia (such as MG City). More broadly, Aziza also competes with market both Carrefour and Casino in Tunisia.

Daniel Viñas, Partner at Mediterrania Capital, commented: “Aziza has developed a unique concept in the Tunisian market, proving its ability to take advantage of the food retail sector development from a traditional system into a modern distribution network. We have been impressed with the quality and capacity of Aziza’s management team and organization. Their focus and determination have allowed the business to achieve impressive growth since its creation.