Vendis Capital, the private equity fund specialized in consumer brands, invests in ECOstyle, a leading brand of sustainable garden care products with an international presence. The sales transaction was supervised by Marktlink Mergers & Acquisitions.
ECOstyle, headquartered in Oosterwolde (the Netherlands) in one of the most sustainable buildings in Europe, develops and markets ecologically responsible products mainly for garden care, as well as animal care and livestock. The company was founded in 1967 with the same eco-oriented philosophy that remains up until today, offering high quality and effective naturally-based alternatives to chemical-based products. Since its foundation, ECOstyle has been led successfully by the Zwart family for three generations.
ECOstyle serves gardening consumers and pet owners, as well as professional gardeners and the agriculture and horticulture sectors. It has established leading positions and a local presence in all of their focus markets, including the Netherlands, Belgium, Denmark and Austria, where it has longstanding relationships with the key garden centers and DIY retailers.
Vendis Capital invests alongside current CEO and family member Jeanine De Vries-Zwart, who will retain a minority stake and transition to a supervisory board role. Martine Olijslagers-Kuip will join as the new CEO, complementing the existing management team consisting of CFO Jehannes Santema and CCO Henny Atsma.
Jeanine de Vries-Zwart is proud of the development of the company over more than 50 years under the ownership of the family and welcomes Vendis Capital as the new owner: “Based on our interactions with Vendis over the past few months, we are very confident to have found the right new owner for ECOstyle who will support the next phase of its development whilst embracing and strengthening the company’s ecofriendly positioning, which has been at the core of our DNA across three generations. We also would like to give a warm welcome to Martine and are convinced that she will bring significant experience in marketing, sales, channel & category development and sustainability from her past roles at Nestlé”.
Koen Rutten who supervised the deal on behalf of Marktlink: ‘’ The interest we were able to raise for this business was substantial, both in The Netherlands and abroad. The range of options eventually allowed us to select a party that felt right, fitted the company culture, was able to warrant the business’s future and has strong growth ambitions as well. We are proud to have managed this process well, in a relatively short period of time. We wish ECOstyle, its employees and its new shareholders every success in realising their growth ambitions. It has been an honour to support such a great business in this special phase.’’
Vincent Braams, Partner at Vendis Capital: “We are very happy to add ECOstyle to our portfolio of consumer brands. It presents a leading and authentic ECO brand that accommodates to the increasing consumer demand for ecofriendly products in its segments. We thank the Zwart family for their trust and are excited to support the growth of the company going forward together with Jeanine and the management team.”
The participation in ECOstyle represents the third investment within Vendis Capital III, the €300 million fund that was launched in 2019.