L Catterton Asia Partners With Sanjiv Mehta To Form Consumer-focused India JV
Global consumer-focused investment firm, L Catterton is creating its Asia platform L Catterton Asia (LCA), deepening its commitment to India with the formation of a new India consumer-focused joint venture. The firm is partnering with global leader Sanjiv Mehta, who most recently was the President of Unilever South Asia as well as the Chairman/ CEO and Managing Director of Hindustan Unilever (HUL). The partnership is to develop a new investment vehicle focussed on India. Mehta will serve as the Executive Chairman for India, effective April 4, 2024. Additionally, he will be involved with LCA and the other global fund platforms more broadly, where his skills and insights can be leveraged.
A consumer-focused executive with extensive senior leadership and global operational experience, Mehta comes to this new partnership following over three decades of service at Unilever. In his role at HUL from 2013 to June 2023, he oversaw a fivefold increase in the market cap of the company to INR 6.2 trillion (equating to USD 76 billion), making it India’s fifth largest public company by market cap and the country’s largest fast-moving consumer goods company. He previously also held various other senior leadership positions at Unilever.
Mehta has also played an active role in developing the Indian corporate sector at large, being a pioneer of some of the best practices seen in the sector today. His new role will serve as a growth catalyst, opening up many new opportunities for Indian entrepreneurs and companies.
“I am particularly excited to join and support L Catterton’s India and Asia team as the firm deepens its commitment to the region,” said Mehta, adding, “As I have come to know the firm’s leadership, I have developed deep respect for the unique way they operate and create value, aided by their strong core values and culture. With L Catterton’s global reach, investing expertise in the consumer sector, and familiarity with the region, all augmented by its strategic partnership with LVMH and the Arnault family office, the firm is very well positioned to succeed. I look forward to working closely with the team and helping to capitalise on the significant opportunities ahead.”
“With India now having the world’s largest population and generating high GDP growth, there has never been a better time to deepen our commitment to the market and invest in the consumer businesses that will shape the landscape of tomorrow,” said L Catterton Global co-CEO Michael Chu. “We are thrilled to partner with Sanjiv, and to work together to create a differentiated partnership that leverages his deep understanding of the Indian consumer, in combination with our disciplined and proven category-first and operating-centric approach to investment and value creation,” he added.
“This is a strategically important initiative for our Asia platform andfor our firm globally,” said L Catterton Asia Managing Partner Scott Chen. “Asia is expected to drive more than half of the world’s GDP growth this decade, fueled by young, technologically enabled and highly dynamic consumers. This unique joint venture brings our firm’s global network and capabilities together with Sanjiv’s insights and experiences to create a compelling offering for investors.”
“The long-term tailwinds that are shaping India’s consumers will continue to create many exciting opportunities across consumer categories where we can leverage our experience of building over 275 brands across the world,” said L Catterton Asia Partner and Head of India Anjana Sasidharan. “Sanjiv’s experience at Hindustan Unilever, which provides market-leading products and services to over 90% of Indian households is extremely relevant and valuable. His partnership will deepen our in-market network, insights, and capabilities and we look forward to further growing our franchise in India and throughout Asia.”
