 "Hindustan Unilever, Sanjiv Mehta")
Global investment firm L Catterton’s Asian arm has formed a joint venture partnership with Hindustan Unilever’s former chief executive officer Sanjiv Mehta to develop a new investment vehicle. Mehta will serve as its executive chairman of India, effective April 4.
Additionally, he will be involved with L Catterton Asia (LCA) and the firm’s other global fund platforms more broadly, the investment firm said in a release.
During his stint at HUL, Mehta oversaw a five-fold increase in the market cap of the company to Rs 6.2 trillion, 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.
“I am particularly excited to join and support L Catterton’s India and Asia team as the firm deepens its commitment to the region,” Mehta said in the release.
“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,” Mehta said.
“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,” Chu said.
“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 per cent 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,” Sasidharan said.
