Alternative investment firm EXEO Capital has announced that it has invested in the Maia Group. The investment is through EXEO’s Food and Agribusiness fund, Agri-Vie Fund II.
Established by Simon Alston and Stuart Sinclair, The Maia Group is a holding company focused on consumer health businesses and includes Wellness Warehouse and True Health Holdings.
Wellness Warehouse is a natural health, food, beauty and home-care retailer.
True Health Holdings is a manufacturer, wholesaler and distributor to the broader natural health-care market. Sean and Carlos Gomes founded the company in 2006.
EXEO’s Agri-Vie Fund II is a private equity investment fund that specialises in food and agribusiness in Sub-Sahara Africa. Since 2008, this fund and its predecessor fund have invested over US$ 150 million (about R2.2 billion) in the food and agribusiness sector.
EXEO Capital senior partner Avril Stassen says due to the strong market growth of the local consumer health sector, they decided to invest in the Maia Group.
“The growth of the consumer health category has been good in South Africa over the last five years. Increased health awareness and preventive natural health care have been the major drivers of this trend, further spurred by the Covid-19 pandemic,” he said.
Stassen added that the growth strategies of both these companies can now be accelerated.
“The health and wellness theme fits squarely into Agri-Vie’s focus areas – which include nutraceuticals, natural products, and ingredients with a link to agriculture. Over the coming years, we expect to see some impressive results from the Maia Group,” he said.
Stassen added that market research shows that the Maia Group can become a market leader in natural consumer health care.
Co-founder and chairperson of Wellness Warehouse and True Health Holdings Carlos Gomes said he was excited about their new partnership.
“I look forward to the exponential growth we can expect in the burgeoning wellness industry. My brother Sean as co-founder and I are immensely positive about making our group the most prominent business in the wellness industry.”
Wellness Warehouse chief executive Alston said they were thrilled to partner with EXEO Capital at this stage of their growth.
“Not only do EXEO Capital bring extensive commercial experience and strategic insights to our group, but critically they share our values and understand the important role that a holistic approach to natural health and well-being can play in creating healthier communities. This is even more relevant today, and I believe that together we will achieve our ambition of making wellness accessible to more people.”
BUSINESS REPORT ONLINE