Nov 2018

Deal Announcement

"Educating potential buyers about the unique position of Lucardi, was key in finding the right partner."

Oaklins supports Lucardi in finding a new partner in Mentha Capital

Lucardi and Mentha Capital have reached agreement on the acquisition of a majority stake in the affordable omni-channel jewelry retail chain. Oaklins acted as exclusive M&A advisor to the shareholders of Lucardi. The transaction will support Lucardi’s plans to expand its online activities and to further grow abroad.

Oaklins is pleased to announce it will complete another successful transaction in the retail industry. Frederik van der Schoot, Managing Partner Oaklins Netherlands: “Based on our global industry insights we recognized from the start that Lucardi is uniquely positioned in the Dutch retail landscape. Nevertheless, investors are quite reluctant to invest in the retail segment nowadays. By creating the right understanding and educating potential buyers about the opportunities in this segment of the market, we were able to generate serious interest and finally finding in Mentha Capital the right partner for realizing Lucardi’s goals.“

Headquartered in The Netherlands, Lucardi is the largest jewelry retail chain in the Netherlands. The company has an extensive network of over 100 stores in the Dutch retail market and a number of strongly growing online initiatives including webshops in the Netherlands, Belgium and Germany. Lucardi’s business model is primarily focused on directly sourced own collection products complemented with external well-known brands.

Mentha Capital is an independent private equity firm active in the lower end of the mid-market in the Netherlands and Flanders. The company invests in established, mid-sized and profitable companies with clear opportunities for growth alongside multiple avenues, including organic growth, expansion in new markets or a buy-and-build approach.

Financial terms of the deal are not disclosed. Completion of the transaction is subject to customary closing conditions. Closing is expected by the end of 2018.

Comments on the deal

Ayad al Saffar

Shareholder, Lucardi

“The sale of our majority stake to Mentha Capital is an important step in Lucardi’s strategy to expand our presence in the Benelux. Oaklins served as our trusted advisor during the entire process and helped us refine our proposition, identify potential targets, drive negotiations and close a transaction with one of the most recognizable Dutch private equity firms in the mid-market. We truly appreciate their senior level dedication to this process, and their perseverance and counsel throughout this transaction.”

Theo Koomen

CEO, Lucardi

“Oaklins has taken our business as seriously as we do. Thanks to their commitment and dedication, we have found the right partner in Mentha to help us further capture the momentum in the current market and expand our market position. Mentha Capital is the right partner for us and together we can accelerate our plans to become the leading jewelry player in the Benelux.”

By creating the right understanding and educating potential buyers about the opportunities in the retail segment, we were able to generate serious interest and eventually find the right partner.

Frederik van der Schoot

Managing Partner, Oaklins Netherlands

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Consumer & Retail

Other transactions in Consumer & Retail

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