Household Appliances: Kapset Joins the Industry with the Acquisition of Manar and the Siera Brand
Moroccan Real Estate Group Kapset Expands Its Portfolio with Acquisition of Manar Appliances
The Moroccan real estate group Kapset continues its diversification strategy by announcing a project to acquire Manar, a national manufacturer of home appliances, through its subsidiary Kapset Industries. The acquisition also includes the historic brand Siera.
The operation has been officially notified to the Competition Council, according to a statement from the group. This marks the launch of its industrial division and represents Kapset’s first major external growth initiative in this sector.
Founded in 2012, Kapset has developed as an integrated real estate operator, operating across the entire value chain—from land acquisition to design, financing, construction, marketing, and asset management. The group is notably active in tertiary real estate, logistics platforms, and the hospitality sector.
With the establishment of Kapset Industries, the group aims to broaden its activities and leverage its expertise to support national industrial development.
Established in August 1956, Manar (National Manufacturing for Refrigeration and Electronics) operates an industrial site in Aïn Harrouda, on the outskirts of Casablanca. Spanning 11.5 hectares, it includes nearly 55,000 square meters of covered buildings and employs approximately 700 staff members. Its production capacity reaches several hundred thousand units annually.
The company operates two main activities under the Siera brand. The first focuses on the local manufacturing of cooling equipment, including static and ventilated No Frost refrigerators, combined units, and freezers. The second involves the marketing and distribution of other home appliances such as washing machines, dishwashers, cooking appliances, air conditioners, water heaters, and LED televisions.
According to Kapset, this acquisition will enable the continuation and acceleration of industrial investments, particularly through the enhancement of production capacities in the cooling segment and the deployment of new technological lines dedicated to refrigerators and Total No Frost combined units.
The program also includes the adoption of more environmentally friendly manufacturing processes that are energy-efficient, with the ambition of strengthening the presence of the "Made in Morocco" label in both national and regional markets.
