Ardian buys minority stake in ProduceShop

Ardian said in a statement that the growth investment will support the company's expansion to international markets. The company will expand to Sweden and Finland by the end of 2020.

The GP deployed equity via its second growth fund, which held a final close in April 2018 on €230m, surpassing its target of €200m. The fund takes both minority and majority stakes in companies with revenues of €5-100m, deploying equity tickets of €5-25m. The vehicle will invest in 17 companies, according to Unquote Data.

Company
ProduceShop was founded in 2015 and is based in Lugano, Switzerland. The e-commerce company sells outdoor and indoor furniture and accessories, as well as DIY supplies. The company has tripled its revenues in the past three years, according to a statement. More than 50% of its revenues are from sales in the UK, France and Germany.

People
Ardian – Romain Chiudini (director, Ardian Growth); Bertrand Schapiro (director); Olivier Roy (investment manager).

Advisers
Equity – Giovannelli e Associati, Fabrizio Scaparro, Matteo Bruni, Paola Cairoli, Claudia Raimondi, Ferrante Fontana (legal); Vischer, Gian Andrea Caprez, Christoph Niederer, Seraina Jenny-Tsering (legal); New Deal Advisors, Antonio Ficetti, Roxana Hanceanu (corporate finance); Digital Value, Arnaud de Baynast, Romain Bury (commercial due diligence).
Vendor – Blue Circle Capital, Chiaretto Calò, Paolo Gramaglia (M&A); Bernasconi Martinelli Alippi & Partners, Fabio Alippi (legal).

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• Topics
• Expansion
• DACH
• Consumer
• Switzerland
• Ardian (formerly Axa PE)