Lucardi has been acquired by Mentha Capital

The shareholders of Lucardi, a leading jewelry chain in the Netherlands, have sold the company to Mentha Capital.

Headquartered in The Hague, Lucardi distinguishes itself from the traditional jewelry stores by offering modern and trendy jewelry at an affordable price. The company’s offering consists of a wide collection of golden, silver, steel, gold plated and bijou watches, rings, bracelets, necklaces, ear rings, friendship rings and gifts. The company primarily sells directly sourced private label jewelry, complemented with third-party brands. Lucardi operates 105 brick-and-mortar stores throughout the Netherlands. In addition, the company operates a Dutch, Belgian and German web shop.

Mentha Capital is an independent private equity firm active in the lower end of the mid-market in the Netherlands and the Flanders region. 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 and a buy-and-build approach.

Ayad al Saffar, Shareholder of Lucardi, said: “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.”

Oaklins' teams in the Netherlands and Sweden advised the seller in this transaction.