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Published
Jan 11, 2018
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L Catterton Asia sets sights on Patanjali

Published
Jan 11, 2018

L Catterton Asia, a private equity fund co-owned by LVMH, has set its sights on health and beauty brand Patanjali.


The French luxury group LVMH has expressed a strong interest in funding the Ayurvedic health and beauty brand Patanjali - Patanjali- Facebook


“We would love to work with [Patanjali co-founder Acharaya Balkrishna] if we can find a model,” said Ravi Thakran, a Managing Partner for L Catterton Asia, cited in the Economic Times. “I know his model is not to work with multinationals and with foreign money,” Thakran conceded, adding that the fund is looking to find an agreement both parties are happy with.

The fund could be ready to lend up to 500 million US dollars (approximately 3,326 crore rupees), close to half of its funds currently allocated for Asia, to Patanjali if agreeable terms can be found.

However, Patanjali co-founder Acharaya Balkrishna has previously said that they would not sell a stake "to anyone". The Patanjali brand has taken a strong stance against foreign investment thus far as part of its Swadesi, nationalistic values, a decision which has garnered support with Indian consumers.

Despite being unwilling to give away a stake in the company, Patanjali have stated that they are looking for funds to aid in their expansion plans. Balkrishna has previously said that the company is looking for 5,000 crore rupees in Indian currency loans (approximately 752 million dollars) to develop more production plants across India. After stating that these could be acquired from Indian banks with relative ease, Balkrishna said that he will consider suitors whose rates are therefore better than the banks. “If foreign money comes and gives us on our conditions we will accept,” said Balkrishna. 

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