Mentha Capital buys Lucardi

The GP is currently investing via its €143m Mentha Capital Fund V vehicle, which closed in 2017 and invests equity tickets of €5-25m in businesses with EBITDA ranging from €2-10m.

Previous owner Ayad Al Saffar will retain a minority stake in the business. Al Saffar is also the owner of the successful Swedish retail chain Ur & Penn, also focused on the watches and jewellery segment.

Mentha will support the business in its international expansion.

Company
Founded in 1985, Lucardi has grown into the largest jewellery retail chain in the Netherlands, according to a statement from the business. With 500 employees working across 100 stores, Lucardi sells gold and silver jewellery, watches and accessories.

People
Lucardi – Theo Koomen (CEO).
Mentha Capital – Barend Rutten (investment director).

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• Topics
• Buyouts
• Benelux
• Consumer
• Netherlands
• Mentha Capital