Coface announces agreement to acquire Cedar Rose Group

Coface: agreement to acquire Cedar Rose Group, strengthening its information services in the Middle East and Africa

Paris, 3 February 2025 – 17.35

Coface announces that it has signed an agreement with Mr. Antoun Massaad and Mrs. Christina Massaad, co-founders of the company, to acquire the Cedar Rose Group.

With over 25 years' experience, Cedar Rose is one of the leading providers of business information solutions in the Middle East and Africa region. In a region where information is difficult to access and with positive economic growth outlook, Cedar Rose has built up a vast business network enabling it to produce data whose quality is recognized by its customers, including a number of multinationals.

Following the acquisition, Cedar Rose will become Coface's information provider in the region, for both credit insurance and information services sales. All Coface's customers will benefit from enhanced Coface data.

This external growth operation will enable Coface to further strengthen its information production capabilities in areas where information is not readily available. This acquisition aligns perfectly with the objectives of Power the Core 's strategic plan, which notably focuses on data excellence.

The closing of the acquisition is subject to customary closing conditions.

Ernesto de Martinis, CEO for Mediterranean and Africa region said:

“This acquisition enables Coface to strengthen its position in a zone that promises strong growth, where information remains difficult to obtain, and in which Coface has now been operating for many years. We look forward to welcoming Cedar Rose’s teams to Coface and to working with their partners in the region.”

Antoun Massaad, Cedar Rose Group’s CEO and co-founder said:

“We are delighted to join the Coface team in the Mediterranean & Africa region (MAR). This acquisition is a major milestone in the Cedar Rose story, and I believe it will supercharge Coface’s business information strategy. We are confident that our company, our employees and our international partners will all benefit from this smart strategic alliance.”

Source: https://www.coface.com/investors/press-releases/financial-press-releases