Trios to Create “Customer-Focused” Private Equity Firm
LVMH, a European multinational luxury goods conglomerate has partnered with Catterton, the private equity group along with the Bernard Arnault, a French business mogul and investor to institute the world’s largest ‘customer-focused’ investment firm.
The trios, luxury giant- LVMH, Catterton as well as Arnault has joined the workforce to produce customer focused private equity house.The operating units of Catterton’s private equity house in North America and Latin America would coalesce with LVHM along with Asian private equity and real estate business and Groupe Arnault as a part of the deal. As per the joint statement stated on January 5, triumvirates claims to create the world’s largest and leading customer focused investment firm. After the close of successor funds, the management holds the target of $12 billion in assets, the newly-formed joint venture L Catterton would carry out six clear and distinctive fund strategies. Further, these distinct fund strategies is formed to focus on customer buyout in addition to growth investments across Asia and Europe along with North and Latin America. Moreover, according to the deal, 60% would be owned by L Catterton and 40% by Groupe Arnault, regarded as the founder and the holding company of LVMH and LVMH alone. Consumer-focused private equity firm, Catterton that acquired the famous jewelry brand John Hardy in the year 2014, has invested in a sequence of retail, consumer products, food, and beverage as well as consumer services brands. The statement too adds that the transaction is anticipated to close by early 2016 subject to regulatory and the approval of the certain investors.