L Catterton, which has strategic partnerships with Moët Hennessy Louis Vuitton (LVMH ) and Bernard Arnault’s family office, has announced the formation of a new India consumer-focused joint venture partnership with former chairman, managing director and CEO of Hindustan Unilever Limited—Sanjiv Mehta.
L Catterton’s Asia arm will develop a new investment vehicle with Mehta, who will serve as the JV’s Executive Chairman of India, effective April 4, 2024. Additionally, he will be involved with L Catterton’s Asia and other global fund platforms.
Mehta comes to this new partnership following over 30 years of service at Unilever PLC Group and nearly a year after stepping down from the positions of Chairman, MD & CEO of HUL, handing over the reins to Rohit Jawa.
“This is a strategically important initiative for our Asia platform and for our firm globally,” said Scott Chen, Managing Partner, L Catterton Asia.
“Asia is expected to drive more than half of the world’s GDP growth this decade, fueled by young, technologically enabled and highly dynamic consumers. This unique joint venture brings our firm’s global network and capabilities together with Sanjiv’s insights and experiences to create a compelling offering for investors,” added Chen.
Founded in 1989, L Catterton has made over 275 investments in some of the iconic consumer brands, including GANT, Pepe Jeans, PVR Cinemas and Drools, among others. “I am particularly excited to join and support L Catterton’s India and Asia team as the firm deepens its commitment to the region,” said Sanjiv Mehta.
“As I have come to know the firm’s leadership, I have developed deep respect for the unique way they operate and create value, aided by their strong core values and culture. With L Catterton’s global reach, investing expertise in the consumer sector, and familiarity with the region, all augmented by its strategic partnership with LVMH and the Arnault family office, the firm is very well positioned to succeed. I look forward to working closely with the team and helping to capitalize on the significant opportunities ahead,” added Mehta. (Edited by : Anand Singha)
