Meridia buys juicer manufacturer Zummo

Unquote understands that the company has an enterprise value of around €25-30m, which equates to 7-8x its EBITDA.

Meridia bought a 90% stake in the company, while the founder and CEO Rafael Olmos reinvested in the business alongside the GP and retained the remainder.

The GP acquired the company via its fund Meridia Private Equity I, which closed on €105m in June 2017. Unquote understands that the fund is now around 85% deployed.

In addition to the equity drawn down from the fund, a debt package was provided by BBVA. The financing includes capex lines for the construction of a new factory in La Eliana, which will be operative in 12 months.

The GP intends to consolidate the company's market position in Spain and accelerate its international expansion in Europe and Latin America.

Company
Founded in 1992 and headquartered in Moncada, near Valencia, Zummo specialises in manufacturing fresh fruit juicers.

The company sells its products in 100 countries worldwide and generates EBITDA of around €3.5m from revenues of €20m, 80% of which comes from outside Spain.

People
Zummo – Rafael Olmos (founder, CEO).
Meridia Capital – David Torralba (partner); Javier Faus (chair).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain