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Former HUL CEO Mehta teams up with PE fund L Catterton for India-focused JV

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Mehta will serve as the executive chairman of India for the vehicle from 4 April onwards

Mumbai: Former Hindustan Unilever chief executive Sanjiv Mehta has teamed up with the world’s largest consumer-focused investment firm L Catterton to launch an India-focused investment vehicle.

Mehta, who headed Hindustan Unilever (HUL) for ten years till 2023, has formed the India consumer sector-focused joint venture with L Catterton to develop a new investment vehicle, as per an official statement.

He will serve as the executive chairman of India for the vehicle from 4 April onwards, it said, adding that Mehta will also be involved with LCA L Catterton Asia and the firm’s other global fund platforms.

“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,” Mehta said.

Catterton’s global co-chief executive Michael Chu said this is a good time to deepen commitment for India, which has the world’s largest population and is also generating high GDP growth.

The vehicle will be investing in the consumer businesses that will “shape the landscape of tomorrow”, Chu added.

Catterton’s head of India Anjana Sasidharan said there will be many exciting opportunities across consumer categories, where it can leverage on its experience of building over 275 brands across the world.

Mehta’s experience at Hindustan Unilever, which serves over 90 per cent of Indian households, is extremely relevant and valuable and partnering with him will deepen L Catterton’s in-market network, insights, and capabilities, Sasidharan added.

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