Gocco, first acquisition for Diana Capital II Fund

Spanish kidswear chain Gocco is the first acquisition made by the 100

million euro Diana Capital Fund II, managed by the namesake venture capital firm. The new reference investor has acquired a 40 percent stake in the group.

As advanced by both parties, Diana Capital input in Gocco would be articulated through a capital increase and share purchases, as stated in the agreement reached by the management with the other shareholders.

Francisco Gómez-Zubeldia, vice president, CEO and shareholder of Diana Capital, notes that this transaction is a good example of the change in investment cycle in Spain, as published 'Expansion'. "We clearly see it's time to invest and take positions in Spanish companies that have made it through the crisis and remain firmly consolidated. Gocco operation is the first example, and our Fund II expects to close three other operations this year," claimed Gómez-Zubeldia at the time the investment was disclosed.

The cash injection will help to Gocco secure a leading position in Spain, strengthen their finances and serve as a springboard for international expansion.

Gocco, launched in 2000 with support from private investors including well-known Spanish families like the Oriol and the Entrecanales, runs 250 stores in 15 countries and plans to open another 200 over the next 4 years.

According to publicly published data for 2012, Gocco turnover came in at 38.5 million euros on operating profit of 1.2 million and 0.6 million profit.