12 January 2016 Vendis Capital acquires majority stake in Petrol Industries
Utrecht/Brussels, 12 January 2016 – Vendis Capital, the investment fund specialized in the European consumer brands sector, has acquired a majority stake in Petrol Industries, the fast growing Pan-European affordable fashion brand.
Petrol Industries, headquartered in Tilburg (the Netherlands), develops & markets denim-inspired clothing for men and kids under its well-known Petrol brand. Petrol has experienced significant growth over the past years, driven by its unique brand positioning and excellent international roll-out strategy. Led by the passionate entrepreneurs Pedro van Zon and Elwin Flint, the company has successfully built significant market presence in the major European markets. Vendis Capital and Petrol Industries see strong advantages in leveraging on each other’s competencies in the next phase to further unlock the brand’s potential. Pedro van Zon and Elwin Flint will remain in their role of driving the company forward.
“The participation in Petrol perfectly fits the profile of companies we seek to invest in”, Vincent Braams adds. “Petrol is a typical example of an entrepreneurial company that created strong international growth and that can benefit from our expertise in brand building and conquering international markets. Besides providing our experience and knowledge, we are happy to provide growth capital to a management team with a strong vision, seeking to further develop a powerful consumer brand. We look forward to a successful cooperation and are highly enthusiastic about Petrol joining the Vendis family of consumer companies.”
Pedro van Zon, founder of Petrol Industries is pleased with Vendis as its new partner: “We are happy to have Vendis supporting the roll-out of our growth strategy. In Vendis Capital we are delighted to have found a partner that is familiar with the consumer brands industry. With Vendis on board we will be able to better capture the full market potential in our core growth markets, invest in the organization and expand to new markets. We have grown fast in recent years and with our current strategy we will be able to further develop our position in the affordable quality fashion industry in the years to come.”
The participation in Petrol represents the fifth investment of Vendis in the Netherlands. Other investments are eyes + more (optical retail), Yarrah (organic pet food), Hypo Group (equestrian products), and Humanoid (luxury women fashion).
Vendis Capital has recently started its second fund, and has rapidly secured nearly €160m of commitments. Petrol is the first investment in the new fund. Fundraising for Vendis Capital II will close in the course of the coming months.