L Catterton has announced the acquisition of a majority stake in Latvian bath and body care brand Stenders. The financial details of the transaction have not been disclosed, but it is noted that Stenders has achieved a notable 20 percent annual revenue growth over the past four years.
Kristine Grapmane, COO of Stenders, expressed enthusiasm about the partnership, stating, “This collaboration will propel us into the next phase of growth. L Catterton’s track record of creating value for its portfolio companies is impressive, and we are excited to leverage their insights, operational expertise, and extensive network. Our focus will be on expanding our market presence, improving store productivity, enhancing our e-commerce operations, optimizing manufacturing efficiency, and attracting top talent.”
The acquisition positions Stenders to accelerate its international expansion into Asia, Europe, the Middle East, and the US. Scott Chen, managing partner at L Catterton, highlighted the evolving consumer trends in the bath and body care market. “Consumers are increasingly ‘trading up’ to premium products, a trend that mirrors their shift towards high-end facial skincare and hand care. Stenders, with its strong brand values and exceptional products, has effectively capitalized on this movement. There is significant potential for further growth, and we look forward to working with Stenders’ management team to achieve our mutual objectives.”
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