L Catterton acquires majority stake in bath and body brand Stenders

L Catterton, the investment firm has acquired a majority stake in Stenders, a premium bath and body company founded in Latvia in 2001 that now operates in 20 countries around the world. Financial details of the company have not been disclosed.

Drawing on its deep Latvian heritage, Stenders crafts products inspired by the Nordic natural environment. The company currently has more than 400 products that are developed with a focus on safety, sustainability and functionality, made in Latvia from natural ingredients and packaged in fully recyclable materials.

Stenders has grown revenues by approximately 20% per year over the past four years. Sales are generated through an omnichannel network of more than 300 stores worldwide, major e-commerce platforms and the brand's website.

Focusing on the premium market, Stenders' brand is deeply influenced by Latvia's unique bathing culture. This culture dates back centuries and is used not only to bathe the body, but also to relax and purify the mind. The brand's growth is driven by shifting consumer trends such as a growing focus on overall wellness, increasingly sophisticated bath and body care routines, and a growing preference for products with natural ingredients.

"Consumers are spending more in the bath and body care market, and we expect this trend to continue as they further gravitate toward premium products such as facial skincare and hand care," said Scott Chen, Managing Partner at L Catterton. "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 the Stenders management team to achieve our shared goals."

The transaction is designed to accelerate Stenders' international expansion in Asia, Europe, the Middle East, and the U.S., leveraging the long-term tailwinds of the industry.

“This partnership will kick-start our next phase of growth. 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 our expansion 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,” added Kristine Grapmane, COO of Stenders.