Intercoil seals strategic partnership with Africorp unit
DUBAI, February 10, 2025
Intercoil International, a leading UAE-based manufacturer, distributor and retailer of total sleep solutions across the GCC region, today (February 10) announced a strategic partnership with Dolidol, a member of Africorp Consortium Group.
The alliance was formally announced during the Integrated Industrial Partnership for Sustainable Economic Development summit in Qatar, in the presence of the Ministers of Industry and Trade from both the UAE and Morocco, thus highlighting the strengthening economic ties between the two nations.
According to senior officials, the partnership brings together two established leaders in the bedding industry.
Through its industrial division, Africorp Industry, the consortium operates one of Africa's most recognized bedding and foam manufacturing businesses under the Dolidol brand.
This integration creates significant opportunities for technological innovation, sustainable manufacturing practices, and market expansion across the Middle East and Africa, said a statement from Intercoil.
Intercoil is the exclusive Middle East licensee for international bedding brands Simmons and Therapedic partnerships spanning 15 and 23 years respectively, thus demonstrating its long-term commitment to premium quality and market leadership.
"In our 50th anniversary year, this strategic partnership represents a significant opportunity for Intercoil's continued growth and development. The combination of our manufacturing expertise with Dolidol’s industrial capabilities creates substantial opportunities for regional expansion and product innovation," remarked its CEO Hassan Abbas Al-Hazeem.
The partnership outlines an ambitious development strategy across four key areas, supported by a planned investment of $55 million over five years, he added.
Africorp Consortium Chairman Saad Berrada Sounni said: "The strategic partnership between Dolidol and Intercoil reflects our vision of an integrated industrial development between Africa and the Middle East."
This partnership marks a significant step in regional industrial integration, creating a strong platform for growth in the Middle East and Africa's sleep solutions sector, he added.
Dubai based boutique advisory firm Trident Consulting advised Intercoil and the Al Hazeem family on this transaction.-TradeArabia News Service
