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. The firm is led by its CEO, Scott Dahnke, and Chairman, Michael Chu.Why A Private Equity Firm Backed By Bernard Arnault Is Putting $400 Million Into Norwegian Cruise LineForbes 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.
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.Taylor, Alexander L. "Buyout Binge". TIME magazine, Jul. 16, 1984. Between 1992 and 2002, the company invested in well-known consumer brands including P. F. Chang's, Odwalla, and Baja Fresh.Investor Group to Take Control of Baja FreshLos Angeles Times In 2001, the firm changed its name to Catterton Partners.
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.Consumer-focused PE firm L Catterton raises $3.71b for ninth fundDealStreetAsiaKodiak Cakes acquired by L Catterton, a private equity firm Snack Food & Wholesale BakeryConsumer-focused PE firm L Catterton raises $3.71b for ninth fundThe Wall Street Journal
In 2003, Scott Dahnke joined the firm as a co-Managing Partner. In 2008, the firm launched its first growth fund targeting investments in early to late-stage growth companies. These investments included Vroom, Sweaty Betty, Il Makiage, Sweet Leaf Tea Company, Tula and Pong Research.Online Used Car Retailer Vroom Announces $254 Million Series H Funding RoundBusiness WireFitness Retailer Sweaty Betty to Prepare $524 Million SaleThe Business of FashionL Catterton-Backed Beauty Business Valued at $1.5 Billion by New InvestorsThe Wall Street JournalL Catterton-Backed Catterton Swallows Stake in Sweet LeafThe New York TimesL Catterton Backs Skin-Care Brand TULAThe Wall Street Journal In 2013, the firm launched its Latin America fund targeting investments in Latin American middle market growth companies.Catterton Taps Former Executives of Eton Park to Run Latin America FundThe Wall Street Journal Notable investments in the Latin America strategy include Cholula Hot Sauce and NotCo.L Catterton to buy Jose Cuervo-backed hot sauce brand CholulaReutersBrazil's Petlove raises $150M from Riverwood, SoftBank to sell pet products and services onlineTechCrunch
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. 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. 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.
In 2020, L Catterton raised over $5 billion for its ninth buyout fund and over $950m for its fourth growth fund.L Catterton Seeks Nearly $7.8 Billion for New FundsThe Wall Street Journal
In April 2024, the company bought a majority stake in the makeup retailer Kiko Milano. In June 2024, it acquired Stripes, a beauty and wellness brand focused on menopause health founded by actress Naomi Watts.
In January 2025, L Catterton entered into a strategic partnership with Japanese premium fishing gear maker Megabass, aiming to expand Megabass's production and distribution network to respond to rising demand in Japan and the United States.
Investments The firm has backed several notable investments, including Birkenstock, Healing Hands Clinic,, LVMH-Backed L Catterton Buys Iconic Sandal Maker BirkenstockBloomberg L.P. Jio Platform, Ainsworth Pet Nutrition, Peloton, Nature's Variety, Pinarello,L Catterton closes on investment in Pinarello HoldingBicycle Retailer and Industry News Freetrade, the Miami Design District, Cover FX, Polène, and Ginza Six.
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