Valencia, December 24th, 2019 – Meridia Private Equity partners up with Rafael Olmos, Zummo’s Founder and CEO, via the acquisition of a significant majority stake in Zummo, a global incumbent in the design, manufacture and commercialization of automatic fresh fruit juice extraction machines, so as to jointly enhance the company’s future growth.
Founded in 1992 in Moncada (Valencia, Spain) by Rafael Olmos and family, Zummo has leveraged upon its deep-rooted R&D culture driving the internationally renowned technical excellence of its machines, and the consolidation of its extensive commercial network in order to become a global reference in the juice extraction machines segment. Consequently, the company sells its products in more than 100 countries worldwide, with international sales representing c.80% of total revenues.
Alongside Rafael Olmos and the rest of Zummo’s management team, Meridia Private Equity I will support the company to consolidate its leading market position and accelerate its future growth plans. In order to cater to Zummo’s envisaged growth, the company is currently building new and larger state-of-the-art manufacturing facilities in La Eliana (Valencia).
Rafael Olmos, Founder and CEO of Zummo, stated: “We are thrilled to welcome Meridia Private Equity as our strategic partner in order to write our next chapter together. I am convinced that this partnership, together with the construction of Zummo’s brand-new manufacturing premises, represents a great opportunity to take the company to the next level in terms of growth and profitability”.
David Torralba, Partner of Private Equity at Meridia Capital, commented: “Zummo’s attractive market prospects, integrated and customer-centric business model and international profile fit perfectly with Meridia Private Equity I’s investment focus. We look forward to playing a key role in this new stage of Zummo’s development to consolidate its growth and market-leading position”.
Meridia Capital’s Chairman, Javier Faus, said: “As Meridia Private Equity I’s sixth investment, Zummo evidences our capacity to partner up with entrepreneurs and our consolidated presence in Spanish mid-market growth projects with a clear objective of reaching a global scale”.
Zummo is a global incumbent in the design, manufacture and commercialization of automatic fresh fruit juice extraction machines, mainly aimed at the food service and food retail segments. The company sells its products in more than 100 countries worldwide (c.80% of international sales) through a worldwide capillary commercial network.
For more information please visit: www.zummocorp.com
About Meridia Capital
Meridia Capital Partners is a leading alternatives fund manager investing in private markets in Spain with c.1 billion euros of assets under management.
Throughout the firm’s more than 13 years of experience and various vehicles, Meridia has consistently outperformed market returns for its investor base, which includes some of the world’s largest and most noteworthy institutional groups.
In 2016 Meridia Capital launched Meridia Private Equity I, a €105 million private equity fund that targets companies headquartered in Spain. In addition, Meridia is also active in real estate, venture capital, and the impact investing sector.
Zummo represents Meridia Private Equity I’s sixth investment. Previous investments include: (i) Sosa Ingredients, a leading producer and distributor of technical food ingredients for the gastronomy segment; (ii) Grupo Andilana, a leading premium casual dining restaurant chain and hotel operator in Spain; (iii) Futbol Emotion, a leading specialist omnichannel football retailer in Spain and Portugal; (iv) Volotea, a Spanish-based airline offering point-to-point flights between small-mid sized cities throughout Europe; and (v) Kipenzi, a leading integrated pet care specialist in Spain and Portugal, recently divested.