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LVMH, Arnault, Catterton Join Hands to Create Consumer-Focused Private Equity Firm
Jan 7, 2016 3:07 AM
By Rapaport News
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RAPAPORT... Luxury giant LVMH Moët Hennessy Louis Vuitton has
partnered with private-equity group Catterton and French business magnate Bernard
Arnault to set up what the trio claims will be the world’s largest
consumer-focused investment firm.
As part of the deal, Catterton’s private equity
operations in North America and Latin America will combine with LVMH and Groupe
Arnault’s European and Asian private-equity and real-estate business, according
to a joint statement January 5.
With a target of $12 billion in assets under management after
successor funds are closed, the newly-formed partnership L Catterton will have six distinct fund
strategies to focus on consumer buy-out and growth investments across North
America, Europe, Asia and Latin America. It will be 60 percent owned by the
partners of L Catterton and 40
percent by LVMH and Groupe Arnault, the holding company of LVMH founder Arnault.
Catterton, which acquired
jewelry brand John Hardy in 2014, has invested in a string of retail, food
and beverage, consumer products and consumer services brands.
The transaction is expected to close early 2016 subject
to regulatory and certain investor approvals, the statement added.
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Tags:
Bernard Arnault, Catterton, LVMH, LVMH Moët Hennessy Louis Vuitton, private equity, Rapaport News
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