Ascension Capital Partners, a prominent South African private equity firm, has made headlines with its recent acquisition of a 45% shareholding in Paul’s Muesli, a highly regarded producer of muesli, granola, and cereal bars. This strategic move underscores Ascension’s commitment to investing in promising companies within the food and beverage industry.
Paul’s Muesli has an inspiring origin story that dates back to the 1990s. The company was founded by Paul Ruiter, who initially operated from his mother’s garage. Paul’s passion for creating delicious and nutritious muesli inspired him to start mixing custom blends for various hotel chains. With time, his products gained recognition for their exceptional quality and taste, fueling the growth of the business.
Today, Paul’s Muesli has evolved into a reputable manufacturer of muesli products, operating on contract in South Africa. The company collaborates with renowned food companies such as Kellogg’s, Tiger Brands, and Vital, producing muesli and related items for their portfolios. This strategic positioning has allowed Paul’s Muesli to establish itself as a preferred supplier in the South African food industry.
The partnership with Ascension Capital Partners marks an important milestone for Paul’s Muesli. With the acquisition of a 45% shareholding, the firm gains access to Ascension’s extensive expertise, resources, and network. This infusion of capital and strategic guidance will enable Paul’s Muesli to further expand its operations, enhance production capabilities, and explore new market opportunities.
Moreover, Ascension’s investment signifies the firm’s confidence in Paul’s Muesli’s growth potential and its commitment to supporting local businesses. As a private equity company with a strong track record, Ascension Capital Partners has a proven ability to identify and nurture promising enterprises, providing them with the necessary capital and strategic guidance to achieve sustainable success.
The partnership between Ascension Capital Partners and Paul’s Muesli aligns with broader trends in the food and beverage industry. Consumer demand for healthy and convenient products has been steadily increasing, driving the growth of the muesli and granola market. Paul’s Muesli, with its reputation for premium quality and innovative offerings, is well-positioned to capitalize on this growing trend.
About The CEO
Kabelo Moja, the CEO of Ascension Capital Partners, brings a wealth of expertise as a seasoned deal maker, boasting a substantial background in deal origination and execution. He is a qualified attorney, holding admission to the High Court of the Republic of South Africa. His educational credentials encompass an LLB and Postgraduate Diploma in Tax from the University of the Witwatersrand, along with an LLM from the University of Pretoria.
In his previous role as a senior legal advisor to the Public Investment Corporation SOC Limited, Kabelo played a pivotal role in structuring commercial and private equity transactions. He was responsible for negotiating and drafting transaction agreements and providing legal advisory services, primarily within the unlisted and listed investments sector.
Kabelo’s career spans various esteemed positions, including acting executive head of legal at the Public Investment Corporation SOC Limited, legal commercial director at the National Treasury of South Africa, roles at Absa Bank Limited, and service at Hogan Lovells South Africa.
His extensive experience encompasses corporate restructuring, mergers, corporate finance, litigation, and a wide spectrum of debt, equity, mezzanine funding, and private equity endeavors across diverse industries. Notable recent projects involve equity and debt investments in an ICT business, urban property development and management, and a broadband services provider. Kabelo also contributes as a member of the SAVCA board of directors.
By Elijah Christopher