Admaius Capital Partners announced its second investment for the Virunga Africa Fund I last week, laying the foundation for a new North African FMCG platform. The private equity investment firm is making what it describes as a significant investment in Power Brands, the parent company of Céréalis, a leading producer of salted snacks and baked goods in Tunisia. The terms of the transaction had not been disclosed as we went to press.
Céréalis and its brands will anchor the planned FMCG platform, whose investment and operational activities will be supported by the Gahbiche family, founders of the company, and Ekuity Capital, a Tunisian private equity fund manager who first backed the snack company 8 years ago. The platform will be built through a combination of organic growth initiatives and selective acquisitions to build on Céréalis’s portfolio of strong local brands.
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