January 13, 2016
Catterton, LVMH, and Groupe Arnault have announced an agreement to create L Catterton, which will become the largest global consumer-focused investment firm with six distinct and complementary fund strategies focusing on consumer buyout and growth investments across North America, Europe, Asia and Latin America, in addition to prime commercial real estate globally. The new partnership will combine Catterton’s existing North American and Latin American private equity operations with LVMH and Groupe Arnault’s existing European and Asian private equity and real estate operations, currently conducted under the L Capital and L Real Estate franchises. Under the terms of this agreement, L Catterton will be 60% owned by the partners of L Catterton and 40% jointly owned by LVMH and Groupe Arnault. The transaction is expected to close early in 2016, subject to customary regulatory and certain investor approvals.
Latham & Watkins LLP represented Catterton in the transaction with a corporate deal team led by New York partner Eli Hunt, London partner Tom Evans, and Washington, D.C. partner Barton Clark, with New York associates Javier Stark and Christopher Opisso, Los Angeles associate Andrew Clark, Washington, D.C. associate Matthew Holt, and London associates Huw Thomas and Linzi Mutter. Advice was also provided on tax matters by Washington, D.C. partner Cheryl Coe, with Washington, D.C. associate Sean Fitzgerald; on regulatory matters by London partner Tom Alabaster, Brussels partner Héctor Armengod, Chicago partner Nabil Sabki, Washington D.C. partner Mike Egge, and Washington, D.C. counsel Sydney Smith.