Brussels, 19 october 2009 – Vendis Capital, a new private equity fund created by the former retail management team of Mitiska, is pleased to announce its first closing at EUR 55 million. The Colruyt family and the Colruyt group are anchor investors in the fund. Other investors include Emiel Lathouwers (founder and ex-CEO of AS Adventure), Mitiska, Jacques Hayez (founder and CEO of Cassis and Paprika) and management.

Vendis Capital will provide growth and buyout capital to retail and consumer businesses in Europe. Invested amounts will vary between EUR 5 and 15 million. Vendis Capital wants to partner with strong entrepreneurs and managers to support the development of their companies. It believes that sector specialisation will lead to the best investment opportunities in the sector and that it provides more value-added to the companies and the operating teams.

The fund will be managed by a partnership composed of Michiel Deturck, Luc Geuten, Cedric Olbrechts and Willem Van Aelten. They have worked closely together during the last years at Mitiska, the retail investment company, and have gained deep sector knowledge and expertise. Mitiska will channel its future consumer business investments through the new fund.

Vendis Capital plans to raise its capital in a second round to EUR 100 million. Additional funds will be raised through both private and institutional investors.