Vendis makes first exit with Zeb sale

The transaction sees Colruyt acquiring an immediate 40% stake in Zeb, with an option to purchase a further 10%. Zeb's founder and CEO, Luc Van Mol, will retain his 50% holding in the company.

With Vendis's support, Zeb has increased store numbers from 21 to 46. It has also developed its logistics and IT platform and expanded its online offering.

Previous investment
Vendis invested €7.8m in Zeb in January 2010, marking the firm's first ever investment. Capital was committed from the GP's maiden vehicle, Vendis Capital I, which closed on €111.5m.

Company
Zeb is a multi-brand fashion retailer in Belgium. It operates 46 stores and an online offering. The company generates €60m annual revenue, of which €2m is net profit. Zeb employs 380 people.

People
Willem Van Aelten is a founding partner of Vendis. Luc Van Mol is founder and CEO of Zeb. Frans Colruyt is COO of Colruyt.

Advisers
Vendor – KPMG (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Benelux
• Exits
• Consumer
• Vendis Capital
• Belgium