Mediterrania Capital Partners has acquired a 23% stake in Société Meunière Tunisienne (SMT), a Tunisian leader in the pasta segment, through its second fund Mediterrania Capital II.

SMT is specializing in wheat collection, transformation and distribution.

SMT’s brand Randa has revolutionized the pasta market in Tunisia and in Africa.

With close to 660 employees working in a modern production facility in the industrial area of Ben Arous (Tunisia), Randa delivers an annual production of over 50,000 tons of pasta and couscous.

All stages of production are under strict quality controls, from the careful selection of raw materials to the manufacturing of the finished product, until the ordering process.

Commenting on the deal, Albert Alsina, CEO and Managing Partner of Mediterrania Capital Partners, said: “Randa is a clear leader in the agro-industry in Tunisia with high growth potential both in the local markets and abroad.”

“What first attracted us was Randa’s great capability to mix a purely traditional know-how with the latest technological innovations. We are extremely pleased with this new investment and very excited to help accelerate the company’s expansion into the region,” he added.

With the capital injection from Mediterrania Capital Partners, Randa will continue to focus on new product development in order to meet increasing customer demand, and will put the right elements in place in order to accelerate its international expansion.

Mohsen Hachicha, SMT’s founder, said: “We want to establish the brand locally while continuing with our international expansion.”

“Mediterrania Capital investment and the team’s strong business experience will help the group consolidate Randa’s leadership position in Tunisia and grow into a regional leader in the coming years,” he added.

Mediterrania Capital Partners is a dedicated private equity firm focusing on African and mainly North African growth investments in SMEs and mid-cap companies with an equity value of €25m to €400m.

Consistent with its strategy, Mediterrania Capital Partners continues to search for growth opportunities in the Maghreb region – Morocco, Algeria and Tunisia, with potential expansion into Sub-Saharan Africa countries.