Creating long-term value

/ Our track record

Mitiska has a strong track record in private equity investment across retail, real estate and other sectors, having invested in more than 30 participations since 1990 and generated numerous success stories.

Past investments

Mitiska REIM

Mitiska REIM was co-founded by Mitiska in 2012 in a joint-venture with Axel Despriet (A3M).

Over the past years, Mitiska REIM became a pan-european specialist investor and fund advisor in convenience based retail parks and proximity real estate combining value-add acquisitions with development of new projects.

Mitiska REIM’s investment model is partnership-driven, positioning itself as an active, value-adding investor in cooperation with experienced local co-investment partners in Central, Eastern and Western Europe.

Since 2013, Mitiska REIM has raised and is advising 2 funds (FRI & FRI 2) for a total equity amount of € 340m.

Looking forward, Mitiska REIM continues to focus on convenience-based locations while steadily broadening its investment strategy to enable the optimal (mixed) usage of these locations.

To find out more, visit www.mitiska-reim.com.

A.S. Adventure

is a retail chain focusing on the outdoor leisure, sports and adventure travel markets. It covers a wide range of products catering to outdoor pursuits, including camping, hiking, skiing and snowboarding, cycling, swim and beachwear, and travel clothing, accessories and literature.

Mitiska first invested in A.S. Adventure in 1998 when the company had only 3 stores located in Belgium. Over the following years, A.S. Adventure went on to expand its Benelux base and acquired Cotswold Outdoor in the UK and Bever Zwerfsport in the Netherlands. By 2007, A.S. Adventure had 88 stores in total, 30 in Benelux, 29 in the UK and a further 29 in the Netherlands.

Mitiska sold its shares in A.S. Adventure at the end of 2007 for €117 million, representing an IRR of nearly 30% and a 2.6x cash multiple on its original investment.

To find out more, visit www.asadventure.com.

Cassis / Paprika

are fashion retailers catering to different segments of the plus size womenswear market: Paprika is a fast-growing, innovative concept that offers a youthful and dynamic collection for curvy women from size 42 to 52; Cassis is a well-established chain with a clothing line designed for the active, fashion-conscious transitional size woman from size 40 to 48.

Mitiska first invested in Cassis / Paprika in 2008 as part of an LBO with another private equity investor and the company’s CEO and management team. At the time of investment, Cassis and Paprika together had a total of 86 stores and a combined annual turnover of €59 million.

Over the past decade, the company has expanded substantially, with the number of Cassis / Paprika stores across Europe now exceeding 150 and an annual turnover above €100 million. The company has successfully expanded internationally into Austria, Germany, Luxembourg, France and the Netherlands, and further expansion is planned for the coming years.

The company has also built a strong digital presence with its e-commerce activity growing at a rate of more than 30% per year and now accounting for more than 20% or Paprika sales.

To find out more, visit www.cassis.be and www.paprika-shopping.be.

Get in touch

To find out more,
please contact us.

info@mitiska.com
+32 (0)2 583 19 50