L Catterton
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L Catterton is an American multinational private equity firm. Founded in Greenwich, Connecticut in 1989, the fund has made over 250 investments in brands across all segments of the consumer industry.[1] The firm is led by co-CEOs J. Michael Chu and Scott Dahnke.[2] Originally Catterton Partners, the fund merged with Bernard Arnault's family office and LVMH in 2016 to create L Catterton.
In June 2024, L Catterton ranked 39th in Private Equity International's PEI 300 ranking among the world's largest private equity firms.[3]
History
Founding and early history
Catterton was founded in 1989 as Catterton-Simon Partners by Carl Frischkorn (Catterton Family), his accountant Frank Vest and J. Michael Chu, along with former U.S. Secretary of the Treasury William E. Simon.[4] Between 1992 and 2002, the company invested in well-known consumer brands including P. F. Chang's, Odwalla, and Baja Fresh.[5][6] In 2001, the firm changed its name to Catterton Partners.[7]Template:Update inline
2002–2016
Between 2002 and 2016, Catterton completed investments in numerous consumer growth businesses including Peloton, Build-A-Bear Workshop, Ferrara Candy Company, Outback Steakhouse, Restoration Hardware, Wellness Pet Company, and Kettle Foods.[8][9][10]
In 2003, Scott Dahnke joined the firm as a co-Managing Partner.[2] In 2008, the firm launched its first growth fund targeting investments in early to late-stage growth companies.[7] These investments included Vroom, Sweaty Betty, Il Makiage, Sweet Leaf Tea Company, Tula and Pong Research.[11][12][13][14][15][16] In 2013, the firm launched its Latin America fund targeting investments in Latin American middle market growth companies.[17] Notable investments in the Latin America strategy include Cholula Hot Sauce and NotCo.[18][19]
2016–present
In January 2016, Catterton, LVMH, and Financière Agache (previously Groupe Arnault), the family holding company of Bernard Arnault, partnered to create L Catterton.[20] The partnership combined Catterton's existing North American and Latin American private equity operations with LVMH and Groupe Arnault's pre-existing European and Asian private equity and real estate operations. The merged firm is now called L Catterton and invests globally from six fund platforms: L Catterton Flagship Buyout, L Catterton North American Growth, L Catterton Latin America, L Catterton Europe, L Catterton Asia, and L Catterton Real Estate.[21] In May 2021, Private Equity International listed L Catterton as the 32nd largest private equity firm in the world based on capital raised over the prior five years.[22]
In 2020, L Catterton raised over $5 billion for its ninth buyout fund and over $950m for its fourth growth fund.[23]
In April 2024, the company bought a majority stake in the makeup retailer Kiko Milano.[24] In June 2024, it acquired Stripes, a beauty and wellness brand focused on menopause health founded by actress Naomi Watts.[25]
In January 2025, L Catterton entered into a strategic partnership with Japanese premium fishing gear maker Megabase, aiming to expand Megabase's production and distribution network to respond to rising demand in Japan and the United States.[26]
Investments
The firm has backed several notable investments, including Birkenstock,[27] Jio Platform, Ainsworth Pet Nutrition,[28] Peloton,[29] Nature's Variety,[30] Pinarello,[31] Freetrade,[32] the Miami Design District,[33] Cover FX,[34] Polène,[35] and Ginza Six.[36]
References
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- ↑ Script error: No such module "citation/CS1".
- ↑ a b Why A Private Equity Firm Backed By Bernard Arnault Is Putting $400 Million Into Norwegian Cruise LineForbes
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- ↑ Taylor, Alexander L. "Buyout Binge". TIME magazine, Jul. 16, 1984.
- ↑ Investor Group to Take Control of Baja FreshLos Angeles Times
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- ↑ a b Script error: No such module "citation/CS1".
- ↑ Consumer-focused PE firm L Catterton raises $3.71b for ninth fundDealStreetAsia
- ↑ Kodiak Cakes acquired by L Catterton, a private equity firm Snack Food & Wholesale Bakery
- ↑ Consumer-focused PE firm L Catterton raises $3.71b for ninth fundThe Wall Street Journal
- ↑ Script error: No such module "citation/CS1".
- ↑ Online Used Car Retailer Vroom Announces $254 Million Series H Funding RoundBusiness Wire
- ↑ Fitness Retailer Sweaty Betty to Prepare $524 Million SaleThe Business of Fashion
- ↑ L Catterton-Backed Beauty Business Valued at $1.5 Billion by New InvestorsThe Wall Street Journal
- ↑ L Catterton-Backed Catterton Swallows Stake in Sweet LeafThe New York Times
- ↑ L Catterton Backs Skin-Care Brand TULAThe Wall Street Journal
- ↑ Catterton Taps Former Executives of Eton Park to Run Latin America FundThe Wall Street Journal
- ↑ L Catterton to buy Jose Cuervo-backed hot sauce brand CholulaReuters
- ↑ Brazil's Petlove raises $150M from Riverwood, SoftBank to sell pet products and services onlineTechCrunch
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- ↑ L Catterton Seeks Nearly $7.8 Billion for New FundsThe Wall Street Journal
- ↑ https://www.reuters.com/markets/deals/l-catterton-buys-italian-accessible-make-up-brand-kiko-2024-04-26/ Template:Bare URL inline
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- ↑ LVMH-Backed L Catterton Buys Iconic Sandal Maker BirkenstockBloomberg L.P.
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- ↑ L Catterton closes on investment in Pinarello HoldingBicycle Retailer and Industry News
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External links
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