L Catterton invests in Indian restaurant operator

Financial details of the transaction have not been announced, but various Indian media outlets have reported that L Catterton paid about INR3.75 billion ($59 billion) for a 65% stake. The purchase will provide an exit for Beacon Capital and Mirah Hospitality, which committed a combined INR480 million in 2011. Beacon had previously invested INR250 million in Impresario.

Impresario was founded in 2001 with coffeehouse chain Mocha as its first brand. The company's brand portfolio now includes bistros Smoke House Deli and Slink & Bardot, along with casual dining chain Social.

Social is Impresario's fastest-growing brand, having grown to 17 establishments across three cities since its launch in 2014. L Catterton's investment is aimed at helping the company expand its presence both within India and abroad.

"We have been successful in pioneering several food and beverage brands in India and are thrilled to partner with L Catterton in the next leg of our journey, especially as we scale up our Social and Smoke House Deli brands," said Impresario founder and CEO Riyaaz Amlani in a statement. "We recognize that L Catterton is a leading global consumer growth investor with a long and deep experience in building some of the most successful food and beverage brands around the world."

L Catterton was formed last year through the merger of LVMH's private equity and real estate arm L Capital with Catterton, a consumer-focused GP based in the US. The firm is currently raising its third fund, with a target of $1.25 billion for investments in aspirational, affordable and alternative mid-market brands. Currently, L Catterton claims more than $14 billion in equity capital under management across six fund strategies globally.

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• Topics
• South Asia
• Consumer
• Buyouts
• Trade sale
• India
• L Catterton
• Beacon Private Equity