L Catterton Acquires Majority Stake in Stenders

L Catterton has announced the acquisition of a majority stake in Latvian bath and body care brand Stenders. Financial terms of the transaction were not disclosed.

“This partnership will kick-start our next phase of growth,” said Kristine Grapmane, COO of Stenders. “L Catterton has a strong track record of creating value for its portfolio companies, and we are keen to leverage its insights, operational expertise, and network to continue to expand across geographies. Our focus will be on expanding our footprint, further improving productivity in our stores, scaling our e-commerce business, optimizing our manufacturing efficiencies, and attracting talent.”

The transaction will accelerate Stenders’ international expansion across Asia, Europe, the Middle East, and the United States. Scott Chen, managing partner at L Catterton, commented: "Consumers are gradually increasing their spending levels in the bath and body care market, and we expect this trend to continue as they further gravitate towards premium products such as facial skincare and hand care. Stenders is well positioned to capitalize on this shift with brand values and best-in-class products that resonate with its target customers. The company still has ample room for growth, and we look forward to working with Stenders' management team to achieve our shared goals."

L Catterton noted that revenues from premium beauty product lines have grown at an annual rate of 20% over the past four years.