Catterton, which also owns Baccarat, purchased John Hardy in 2014
The new group, L Catterton, will combine Catterton’s North American and Latin American private equity operations with LVMH and Groupe Arnault’s European and Asian private equity and real estate operations. Groupe Arnault is the family holding company of LVMH chairman, Bernard Arnault.
The agreement says that L Catterton will be 60 percent owned by the partners of L Catterton and 40 percent jointly owned by LVMH and Groupe Arnault.
L Catterton will be led by J. Michael Chu and Scott A. Dahnke, currently managing partner at Catterton. Catterton also owns Baccarat as well as numerous other consumer brands.
The new group will have $12 billion in funds under its management.
The transaction is expected to close this year, pending regulatory approval.Follow JCK on Instagram: @jckmagazine
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