Coface Acquires Cedar Rose Group: Expansion in Middle East & Africa
Deal News | Feb 03, 2025 | Globenewswire
Coface announced it has signed an agreement to acquire Cedar Rose Group, a leading provider of business information solutions in the Middle East and Africa, from its co-founders Antoun and Christina Massaad. For over 25 years, Cedar Rose has established a strong network for delivering high-quality data in a challenging region with significant growth potential. Post-acquisition, Cedar Rose will become Coface's information provider in this region, supporting both credit insurance and information services. This acquisition aligns with Coface's strategic 'Power the Core' plan, which aims for excellence in data services. According to Ernesto de Martinis, CEO of Coface in the Mediterranean and Africa region, this move strengthens Coface in a high-growth area. Antoun Massaad expressed confidence that the partnership will benefit Cedar Rose, its employees, and clients. The deal, subject to customary closing conditions, marks a pivotal chapter for both companies in leveraging informational excellence in emerging markets.
Sectors
- Business Information Services
- Credit Insurance and Risk Management
Geography
- Middle East – Cedar Rose, the acquired company, specializes in providing business information solutions in the Middle East.
- Africa – Cedar Rose operates extensively in Africa, a primary focus area for Coface's expansion strategy.
- France – Coface is headquartered in Paris, France, and is orchestrating the acquisition from there.
Industry
- Business Information Services – The article discusses Coface's acquisition of Cedar Rose, emphasizing the expansion of information services in the Middle East and Africa.
- Credit Insurance and Risk Management – Coface is a leader in credit insurance and risk management, providing services that help businesses manage commercial risks.
Financials
- 1.87 billion Euro – Coface's reported revenue in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Coface | Buyer | Company | A leading provider of credit insurance and business information services, with operations in over 100 countries. |
| Cedar Rose | Target Company | Company | A well-established provider of business information solutions in the Middle East and Africa, founded by Antoun and Christina Massaad. |
| Antoun Massaad | Co-Founder of Cedar Rose | Person | Co-founder and General Manager of Cedar Rose, instrumental in its development and acquisition by Coface. |
| Christina Massaad | Co-Founder of Cedar Rose | Person | Co-founder of Cedar Rose, holding significant roles in its operations and strategic development. |
| Ernesto de Martinis | CEO of Coface in the Mediterranean and Africa region | Person | A leading executive at Coface, overseeing strategic expansions in Mediterranean and Africa regions. |