Greenwich, CT and New York, NY – July 11, 2012 – Catterton Partners, the leading consumer-focused private equity firm, and Groupe du Louvre, an affiliate of global investment firm Starwood Capital and the majority shareholder of Baccarat S.A. (“Baccarat”), the renowned luxury crystal company, today announced that shareholders of Baccarat have approved Catterton’s previously announced investment in Baccarat, and the investment has been completed. The shareholders’ meeting also approved the appointment of two partners of Catterton, Michael Chu and Neda Daneshzadeh, as Directors of Baccarat.
Michael Chu, Managing Partner of Catterton, commented, “We are pleased to complete this investment and look forward to working with Baccarat and Groupe de Louvre as we leverage our brand, retail, and operating expertise to accelerate Baccarat’s growth and development on an international scale. Baccarat is one of the most admired luxury brands in the world, and we look forward to supporting the Company’s long-term success.”
Steve Hankin, Vice Chairman of Baccarat and Managing Director at Starwood Capital, added, “We are delighted to welcome Catterton as a shareholder of Baccarat. We are confident that Catterton’s global retail and supply chain expertise and strong track-record of growing consumer companies will be a great asset in accelerating the development of the company, especially on an international scale.”
About Catterton Partners
With more than $2.5 billion currently under management and a twenty-three year track record of success in building high growth companies, Catterton Partners is the leading consumer-focused private equity firm. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton's investments include: Restoration Hardware, Cheddar's and Noodles restaurants, Frederic Fekkai, Build-A-Bear Workshop, Kettle Foods, Odwalla and P.F. Chang's China Bistro. More information about Catterton Partners can be found at http://www.cpequity.com.
About Groupe du Louvre
Groupe du Louvre, owned by funds affiliated with Starwood Capital Group, has three primary business activities: luxury hotel business, budget hotel business and crystal manufacturer. Under the brands of Concorde Hotels & Resorts, the luxury hotel division of Groupe du Louvre gathers more than 25 prestigious hotels established in prime locations, all sharing the same aim: to transform each guest’s visit into an exceptional experience. Louvre Hotels Group, the budget hotel division of Groupe du Louvre, is the second European hotels group with more than 1070 hotels in 42 countries ranging from 1 to 5 stars, under six brands (Première Classe, Campanile, Kyriad, Tulip Inn, Golden Tulip and Royal Tulip). Groupe du Louvre is the majority shareholder of Baccarat. For more information, visit www.groupedulouvre.com.
Baccarat (Paris, Euronext, BCRA) is a French luxury brand internationally renowned as a leader in high-end and exclusive crystal products. Since its foundation in 1764, the company, whose artisanal manufacture is based in Baccarat in the Lorraine region of Eastern France, has been synonymous with a unique savoir-faire and has come to symbolize an inimitable French Art de Vivre. For nearly 250 years, the brand has inspired leading designers from across the world. Ranging from iconic lighting to unique tableware and decorative objects, fine jewellery and tailor-made flacons, the brand’s products and tradition of excellence are widely distributed around the globe. Explore the world of Baccarat at www.baccarat.com.
Andi Rose / Bryan Darrow
Joele Frank, Wilkinson Brimmer Katcher