L Catterton has bought a majority stake in Stenders, a premium bath and body care company based in Latvia.
The transaction allows Stenders to accelerate its international expansion in Asia, Europe, the Middle East, and the US, capitalising on the sector’s secular tailwinds.
Stenders, founded in 2001, now boasts a portfolio of more than 400 products designed with a focus on safety, sustainability, and practicality, created in Latvia using natural ingredients and packaged in 100-per-cent recyclable materials.
“This partnership will unlock the next stage of growth for us,” said Stenders COO Kristine Grapmane.
“L Catterton has a proven track record of creating value for its portfolio companies and we are keen to tap into its insights, operating know-how, and network as we continue to expand across various geographies.”
L Catterton manages roughly $35 billion in equity capital across three multi-product platforms: private equity, credit, and real estate. It has experience building beauty and personal care companies such as Maria Nila, Marubi, Merit, and Nutrafol.
* Further reading: The future of beauty packaging: sustainable, high-tech and customised
