PRINT THIS PAGE Lehman Brothers Merchant Banking acquires Spumador Group23/09/2005. Source: AltAssets. 
 Lehman Brothers Merchant Banking, part of Lehman Brothers' private equity division, has agreed to acquire the Spumador Group, a family-owned Italian branded and private label soft drinks and mineral water bottling business.
The Spumador Group, with total annual revenues of approximately €150m, comprises three separate companies: Spumador Fonte S. Antonio, Fonti San Carlo Spinone al Lago and Acque Oligominerali Valverde. The Group bottles mineral water at the source under its principal mineral water labels, Fonte S. Antonio, Fonte S. Francesco, Valverde, Sancarlo Spinone, and Fonte S. Andrea. In addition, it produces and sells carbonated and flat soft drinks mainly under the Spumador and Sancarlo brands and also under the labels of large retailers, and fills on behalf of industrial clients such as several Coca Cola bottlers or Beverage Partners Worldwide.
In acquiring the Spumador Group, Lehman Brothers Merchant Banking is partnering with the Verga family, the founders of the Spumador Group, and with the Colombo family, founders of San Carlo, who will collectively retain 24 per cent in the Spumador Group. Lehman Brothers Merchant Banking and current management will also partner with José Arozamena, CEO of Cambium USA, who will assume the role of chief executive officer.
Joseph Cohen, the co-head of Lehman Brothers Merchant Banking in Europe, said, 'The Spumador Group has demonstrated a solid track record and has achieved a relevant position in the Italian mineral water and soft drinks market under the successful leadership of the Verga family. Lehman Brothers Merchant Banking will continue to work with the existing management and co-shareholders and support the company with its resources to benefit from further growth opportunities in the sector in Italy and Europe.'
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