BELGIUM - Vendis invests EUR 7.6m in Zeb

Zeb is a fashion retailer which offers over 30 brands to customers in its 21 stores located in out-of-town locations across Belgium. The company has experienced a rapid growth rate, expanding from just seven stores in 2007. A further eight stores are due to open during the course of this year. Based in Merchtem, Zeb staffs 142 people and achieved a EUR 26m turnover last year.

The capital injection will largely be used to finance the company's organic growth, although an acquisitive expansion plan is also a possibility.

Vendis was set up in October 2009 by the former management team of Mitiska, making the Zeb deal the investor's first transaction. The deal was carried out from Vendis' maiden fund, a vehicle currently with commitments of EUR 55m, but which is still fundraising.

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• Topics
• Expansion
• Benelux