L Catterton Asia forms JV with Sanjiv Mehta for Indian market

Mehta will serve as its executive chairman of India, effective 4 April.

Global investment firm L Catterton has announced that its Asia platform, L Catterton Asia (LCA), has partnered with Hindustan Unilever’s former president Sanjiv Mehta to establish a new joint venture focused on India's consumer market.

Mehta will lead as the executive chairman of India, effective 4 April. He will also contribute to L Catterton Asia and the firm's other global fund platforms.

“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,” Mehta said in a statement.

“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,” he added.

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Mehta served as the president of Unilever South Asia and chairman/CEO of Hindustan Unilever Limited (HUL) from 2013 to June 2023. Under his leadership, HUL's market cap surged to $76b (INR 6.2t), making it India's fifth largest public company and the country's largest fast-moving consumer goods company.

“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.