Zumub shareholders evaluate entry of new foreign investors

Shareholders of Zumub, a company specializing in food supplements and sports nutrition, will meet this Thursday in an extraordinary general meeting to assess the entry of new foreign investors into the capital of the Portuguese company.

The group will deliberate on “contact with prospective investors”, which includes the due diligence processes initiated with Rohusa Holding and Festina Lente Schoorl, based in the Netherlands .

The “ proposals received from potential investors, structure of investment proposals, purchase of shares and/or capital increase ” will be presented and assessed, according to the call to which ECO had access.

Another item on the agenda is “assessment of the process initiated by the company to attract potential investors, namely dates and contacts made with potential investors, intermediaries and consultants, with a view to changing the shareholder structure”, according to the same document.

Contacted by ECO, the founder of Festina Lente, Indy Dontje, said that “at this moment” he is “not in a position to provide any information” about his “activities or potential interests” . Current investors also declined to make any statements and Zumub did not respond to attempts to contact him by the time this article was published.

ActiveCap, led by Pedro Correia da Silva, João Ferreira Marques and Francisco Martins, is one of Zumub's shareholders . The company invested in the startup's capital in mid-2021 through an investment worth two million euros . The aim of the investment was to enable the company to develop new products and leverage growth at a national and international level.

The Portuguese venture capital manager invested through the ActiveCap I – Portuguese Growth Fund, which finances expansion and optimization projects for national companies. At the time, the two companies highlighted, in public statements, the “phase of sharp growth that [Zumub] has been experiencing” in the post-pandemic period.

In addition to ActiveCap, the company's shareholders include the founder and CEO (Urbano da Veiga) and other private investors. The company also has a stake in the transport company Delnext, based in Agualva-Cacém.

Zumub had a turnover of approximately 20 million euros in 2023 , which represented a significant increase of 35% year-on-year. The net result is positive and in that year it was around 350 thousand euros. Equity stood at 3.41 million euros and total assets at eight million euros.

It currently employs around 80 people. On the social network Linkedin, it is possible to see that there are several job openings, including for the positions of in-house lawyer specialized in litigation and compliance matters , computer programming ( web developer ) and electromechanical technician capable of carrying out preventive and corrective maintenance of production equipment for the food industry.

Despite its international expansion plan, Zumub does not have a physical presence in other countries, so its focus is on exporting its products. For example, Italy is one of its main markets and, according to the latest available data, monthly turnover in this country is around 100 thousand euros per month, totaling over one million euros per year.