When we talk about the most notable success stories of Tunisians abroad, the recent legal escapades of Sadri Fegaier ended up making us forget the exemplary career of Moez Zouari. With a total fortune estimated at 1.25 billion euros, the couple Moez-Alexandre and Soraya Zouari have indeed knocked on the door of the top 100 greatest French fortunes.
The latest ranking published by Challenges listing the 500 greatest fortunes in France has in fact placed the Zouari group at 104th place. At 53, a relentless entrepreneur renowned for his discretion, the businessman of Tunisian origin built his empire by focusing on local stores.
Businessman Moez-Alexandre Zouari is on the verge of becoming the sole owner of the Picard brand. A “childhood dream” for this born trader, grandson of a Tunisian sugar importer, who forged his success by tackling the management of franchise stores. Associated with his wife Soraya, he is today one of the main French distribution magnates. Franprix, Monoprix, Picard, Stokomani, Maxi Bazar, Boulangerie de Louise, Jardiland, etc. All these brands, well identified by the French, are linked to varying degrees to this tandem.
And « grinding » patient and methodical
« Starting from a convenience store in 1998, this couple built an empire of 1,500 Picard, Maxi Bazar, Stokomani and Franprix stores. He had failed this summer to take over Casino, but should increase to 60% of Picard “, explains Challenges.
However, Zouari is not resting on his laurels and continues to expand and goes on the offensive again. Even today, Thursday January 16, the daily La Lettre headlines: “ Casino: the Attestor fund signs a check to the Niel-Zouari-Pigasse trio to settle their dispute “. It is that the hedge-fund British, who has just left Casino, requested a settlement agreement to escape a complaint filed against him by the three businessmen. They accused him of having derailed their takeover by siding with Daniel Kretinsky, a competitor.
On September 30, 2024, by buying back the shares of the frozen food brand that it lacked for 1.1 to 1.2 billion euros, Moez-Alexandre Zouari continues to diversify his empire in mass distribution, with on the one hand local premium brands and on the other hand discount brands.
« Zouari takes out the nine-zero check! », Exclaims a local media. Since 2020, more than half of Picard’s capital was held by the Lion Capital fund, with the businessman owning the rest of the shares. But the Tunisian is preparing to get its hands on the entire capital of the frozen food brand, in the first quarter of 2025, with the help of the ICG fund, support of its holding company, by purchasing 51% of the capital. Amount of the transaction: 1.1 to 1.2 billion euros, the equivalent of the current fortune of the Zouari group, which in some way doubles the stake. “ A price based on an enterprise value of 2.2 to 2.4 billion euros, itself calculated on the basis of the excellent gross operating surplus – 240 million euros – multiplied nine to ten times », notes Challenges.
A high school idyll
Moez-Alexandre Zouari meets his future wife Soraya in 1st grade at Hélène-Boucher high school, in the 20th district of Paris. He then studied business at Dauphine, after which he married Soraya. When Soraya and her future husband meet, they are two children of Tunisian immigrants: the medical student, hardworking and introverted, and the rather extroverted young man. After their marriage, they embarked on the development of their own activities by distributing roles: Moez to commerce and the development of the network of brands, and Soraya Zouari to team management, administration and finance.
Soraya Zouari is responsible for the daily management of the computer networks. Her husband takes care of store acquisitions and point-of-sale marketing: “Moez can call me at 8 a.m. to tell me that a lease must be signed at noon,” she says.
In a modern economy increasingly dominated by online purchases and the disappearance of numerous “physical” points of sale, the Zouari group has ultimately succeeded in a bet that could at first glance seem risky or even outdated: focusing on timelessness. and the convenience of indestructible local shops.
Related News :