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Fund L Catterton in talks for Brazil St Marché stake

  • Region:


  • Sector:


  • Deal Size:

  • Buy Side Company:

    L Catterton
  • Sell Side Company:

    St Marche
  • Target Company:

L Catterton, the world's biggest consumer-focused buyout firm, is in talks to buy a controlling stake in Brazilian high-end supermarket chain St Marché, which took on too much debt following an aggressive expansion, according to media reports quoting three people with direct knowledge of the talks. According to the people, five St Marché's partners who hold as much as 70 percent of the chain are negotiating an all-cash deal with Greenwich, Connecticut-based L Catterton. The stake includes the 40 percent interest that they own in Eataly SRL's Brazilian unit and an upscale grocery store, the people said. Under terms of the deal, which are preliminary, L Catterton would pour around $61 million into St Marché and give the partners the right to increase their stakes gradually later, one of the people was quoted saying. The money would go to help cut St Marché's debt. The remaining 30 percent in St Marché is owned by billionaire N. Malone Mitchell's Laço Management. A press representative for St Marché said the chain is seeking to obtain fresh capital for a five-year expansion plan.


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