Ascension Capital Partners Acquires A Minority Interest In Paul’s Muesli
Ascension Capital Partners Acquires A Minority Interest In Paul’s Muesli. Ascension Private Equity Fund I has acquired a 45% interest in Paul’s Muesli , a well-known market leading South African manufacturer of muesli, granola and cereal bars supplying blue chip customers in the fast-moving consumer goods sector. Paul’s Muesli also sources, imports, and supplies a wide range of oats and dried fruit, seeds and nuts to the retail and wholesale breakfast cereal market. Ascension will hold its interest alongside the founder and CEO, Paul Ruiter and the long serving management team. The transaction also enhances Paul’s Muesli’s empowerment credentials which will support its customers’ procurement strategies and aid in unlocking new opportunities for the business.
Paul’s Muesli was founded in 1991 by Paul Ruiter and has a reputation for manufacturing the freshest muesli in South Africa at very competitive prices, achieved through the scale of its procurement and experience in the industry. Paul’s Muesli prides itself on the quality of its products and its excellent food safety standards which are internationally recognised. The senior leadership team has established a culture of excellence within the company and has overseen the development of the company from a supplier of a single range of Muesli to becoming a market leader with just over 200 different muesli formulations.
Ascension’s Chief Executive Officer, Kabelo Moja, says “Paul’s Muesli cereal bars appeal to an increasing global consumer trend towards snackification (which is the replacement of larger meals with snacks that are consumed more frequently) and consumers’ need for convenient on-the-go meals which are healthy. This is an exciting investment with significant opportunity for growth in this market. We look forward to unlocking value alongside the management team.”
Founder of Paul’s Muesli, Paul Ruiter says “We are proud to have Ascension, join our exciting journey into the future. The Ascension team bring a wealth of knowledge and skills to the table, that will set Paul’s Muesli up for future growth. The new partnership will make Paul’s Muesli a more diverse business, that has even more focus on its customers, staff, the local community and the environment.”
Kabelo Senoelo, Ascension Chief Investment Officer says “The investment in Paul’s Muesli fits within our investment strategy of investing in businesses that serve or enhance a basic human need and which are able to withstand market volatility. Paul’s Muesli has a strong and capable management team and we look forward to collaborating with management to unlock value in the business over the investment horizon. It is also a good opportunity to expand upon the existing environmental, social and governance practices within the business and to contribute toward the growth of the manufacturing sector in South Africa which is a significant driver of job creation.”
