L Catterton makes growth investment in Brazil

The consumer sector-focused firm invested in Grupo St. Marche, which it expects will organically grow throughout Sao Paulo and Brazil.

L Catterton has made a growth capital investment in Brazilian supermarket chain Grupo St. Marche, the firm announced on Monday.

Details of the transaction were undisclosed, and L Catterton declined to comment beyond a statement announcing the transaction.

St. Marche, based in Sao Paulo, is a chain with nearly 20 supermarket stores under the brand name Empório Santa Maria, according to the statement.

In 2015, St. Marche, which launched in 2002, partnered with Italian restaurant and outlet Eataly to launch Eataly stores in Brazil, the first of which opened in Sao Paulo in May 2015.

The statement added that there are several untapped markets and growing demand for high-end specialty supermarkets in Brazil, and St. Marche is expected to grow through organic expansion.

“With L Catterton’s partnership, St. Marche will have the resources, industry expertise and global capabilities that we need to take St. Marche to the next level as we expand in Brazil and beyond,” St. Marche founders Bernardo Ouro Preto and Victor Leal said jointly in the statement.

L Catterton Latin America managing partner Dirk Donath added that St. Marche is “an ideal complement” to the consumer sector-focused firm’s portfolio.

Earlier this month, L Catterton closed its eighth consumer buyout fund, L Catterton Partners VIII, on $2.75 billion, above its initial $2.5 billion hard-cap. The fund close came almost a year after the merger between Catterton and LVMH’s L Capital.