The buyer has consolidated net revenues of more than 8 billion euros and is listed on the Euronext Paris stock exchange.
About Meridia Private Equity holding period
In December 2019, Meridia Private Equity partnered up with Rafael Olmos, Zummo’s Founding President, by acquiring a significant majority stake in the company. The goal was to support and accelerate its organic and inorganic growth plans and further diversify its business model. During Meridia’s holding period, Zummo has expanded its core citrus juicers business by adding to its B2B machine portfolio a pineapple slicer and an apple cold-press juicer, while also investing in the start-up Citring, currently developing a disruptive automatic juicer for domestic use.
Jose María Mateu, Vice President of Private Equity at Meridia Capital and Zummo’s Board Member, commented: “It has been a true privilege to have contributed to the consolidation of Zummo as a global industry incumbent over the past three years and to have worked alongside such an excellent management team led by Rafa Olmos, to whom we are deeply grateful. We are very proud of what Zummo has achieved, having greatly exceeded its growth, diversification and sustainability targets from day one”.
A very exciting new challenge for Zummo
Thierry de La Tour d’Artaise, Chairman of Groupe SEB, said: “We are delighted to have acquired Zummo, as the acquisition will allow SEB Group to accelerate the development of its professional business, a fast-growing and profitable market. These products closely complement our Professional Coffee business, and will create a true ecosystem for our customers in this sector. The Group extends a warm welcome to Zummo’s impressive management team and its 130 skilled employees. We are going to capitalize on Zummo’s recognized expertise and will together seek to achieve our aims in the professional sector.”
Zummo is very excited about this new challenge. It will surely come full of success. You can find more info about SEB Groupe here.