Forever Bambù, a company active in the cultivation of giant bamboo through biodynamic and symbiotic agriculture, has acquired 31.8 percent of Merida Italia, the Italian branch of Taiwan’s Merida Corporation. The transaction was carried out as part of a €2 million capital increase, of which €750,000 were signed by Forever Bambù.
Advisor for the deal was Antonio Quintino Chieffo, founder of AC Finance and Bemycompany Capital Partners, which had acquired 45.45 percent of Merida Italia from Embassy Freight last November.
Merida International is considered the world’s leading bicycle manufacturer and owns 30 percent of Merida Italia, the exclusive importer and distributor of bicycles and accessories for the parent company’s brands in Italy, Croatia, Serbia, Slovenia and Montenegro. Founded in 2015, the Reggio Emilia-based Italian company is currently led by its two founders, Paolo Fornaciari (president and CEO) and Paolo Ferretti (member of the Merida Italia board of directors). The company had sales of €9 million in 2020 and says it expects sales of €13.5 million this year (based on orders already purchased) and €20 million in 2022. Taiwan-based Merida International reported sales of $1.5 billion in 2020.
Forever Bambù is the first Italian initiative specializing in the cultivation of giant bamboo and the only European company of its kind to boast certification for organic and biodynamic production. Founded in 2014 by Emanuele Rissone, the Cernusco sul Naviglio (Milan)-based company raised over 3.5 million last December with an equity crowdfunding campaign on Opstart, joined by 839 members from seven countries.
With the acquisition, Forever Bambù aims to pave the way for new eco-friendly innovations, but also to enter into new collaborations in strategic sectors that are synergistic with Forever Bambù´s expansion goals, according to Rissone, CEO of Forever Bambù.