Tunisia’s leading snacks maker Céréalis receives backing from pan-African private equity investor Admaius Capital
Céréalis was founded in 2004 by current CEO Karim Gahbiche, a Tunisian national and Harvard graduate who started his career at Goldman Sach’s asset management business and comes from a family of entrepreneurs. The company has grown rapidly to become Tunisia’s largest salty snacks producer with a range of leading branded products, leveraging on modern, fully automated production lines, and the superior raw materials that it sources from its exclusive international strategic partners Admaius will partner with the current owners of Power Brands, the Gahbiche family and Ekuity Capital, a leading Tunisian private equity investor, to build a leading branded FMCG platform through a combination of organic growth and selective acquisitions to expand and build on Céréalis’s portfolio of strong local brands. Commenting on the announcement Karim said, “I’m excited to be working with Admaius and Ekuity Capital as we enter a new chapter in the development of the business which I founded back in 2004. “The experience and network that the Admaius team brings to the table will be invaluable in helping us to grow and develop a major North African FMCG platform.” The private equity investor will also use its position to drive improvements in areas where Céréalis has the potential to have significant positive impacts on society such as reducing packaging waste, increasing recycling, carbon footprint reduction and improving nutrition. Amine Allam, MD of Admaius said, “We are delighted to announce our second investment in another outstanding African business led by a strong entrepreneur. “Céréalis is representative of the home-grown national champions that we typically look to partner with in North Africa and that are expected to outperform and create value for all stakeholders across the cycle. “We look forward to working with Power Brands in the coming years to support the development of a new FMCG platform.” The investment is consistent with Admaius’s strategy of investing in African FMCG companies positioned to benefit from growing incomes and increasing demand for products tailored to meet local needs. “This investment is an excellent example of Admaius’s differentiated approach to investing in Africa that combines on the ground presence with global private equity expertise. “With our strong networks across the continent and our deep expertise in our core sectors, I am convinced that this approach will result in superior outcomes for our investors and our investee companies,” highlighted Marlon Chigwende, Managing Partner of Admaius said. Admaius Capital Partners is headquartered in Kigali, Rwanda and has offices in Nairobi, Johannesburg, Tunis and London and will shortly open its fifth office in Abidjan, Ivory Coast. For all the latest food industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube channel.