The venture capital fund of the management company Meridia Capital, chaired by Javier Faus, has sold its majority stake in the Valencian company Zummo to Groupe SEB, a French manufacturer of small household appliances listed on the Euronext Paris stock market and that markets well-known brands such as Rowenta, Moulinex, Tefal, Lagostina or Krups.
Zummo manufactures and designs automatic squeezing and processing machines for fresh fruit and vegetables, which are commonly used in supermarkets and the hotel industry, and sells them in more than one hundred countries around the world. The company, based in Moncada, was founded in 1992 by Rafael Olmos, its first director, and Meridia entered its capital three years ago with the purpose of expanding its growth. Meridia did not want to reveal the amount of the operation, but according to Javier Faus "it represents the most successful transaction of Meridia Private Equity I to date".
In this time, Zummo has expanded its core business of citrus juicers and added a pineapple slicer and a cold-press apple juicer to its machine portfolio. He has also invested in the start-up Citring, which is developing an innovative automatic juicer for home use.
Meridia Private Equity I was created in 2016, with 105 million euros of capital, and has already sold five companies, so its portfolio is currently limited to Andilana, a restaurant and hotel operator, and Volotea, a specialized Spanish airline. on direct flights between small and medium-sized European cities.
In addition to Zummo, Meridia Private Equity divestments have included Kipenzi, a firm that owns veterinary stores, clinics and hospitals, now merged with Tiendanimal to create Iskaypet; the firm of food ingredients Sosa Ingredients; the veterinary operator Vetsum and Futbol Emotion a specialized store with physical stores and a web platform.
Meridia Capital Partners is a specialized alternative investment manager whose clients are institutional groups such as insurance companies, pension funds and family groups. The firm has 1,000 million euros in assets under management and advice, most of them in real estate investments.
