KIGALI, RWANDA — Admaius Capital Partners, an African private equity company, announced that, via a subsidiary of the Virunga Africa Fund 1, it made “a significant investment” in Power Brands, the parent company of Tunisian baking and snack company Céréalis SA.

Céréalis was founded in 2004 by its current chief executive officer, Karim Gahbiche. The company has become Tunisia’s largest salty snacks producer and baking manufacturer. Céréalis’ products include Bugles branded corn snacks as well as a portfolio of locally branded tortilla chips, popcorn, snack crackers, breadsticks and potato chips.

Admaius said it will partner with the current owners of Power Brands, the Gahbiche family and Ekuity Capital, a Tunisian private equity company, to build a branded consumer packaged goods platform through a combination of organic growth and selective acquisitions to expand Céréalis’ portfolio of local brands.

This investment fits Admaius’ strategy of investing in African CPG companies positioned to benefit from growing incomes and increasing demand for products tailored to meet local needs, the company said. In its corporate mission, Admaius stated that it invests in “high-impact sectors driving social and economic transformation across Africa.”