Growth Capital • Food

L Catterton Partners and General Atlantic Invest In Butternut Box

On February 13, 2020, growth capital firms L Catterton Partners and General Atlantic invested in food company Butternut Box

Investment Context
  • This is L Catterton Partners’ 14th and General Atlantic’s 3rd transaction in the Food sector.
  • This is L Catterton Partners’ 6th and General Atlantic’s 14th transaction in the United Kingdom.

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Investment Summary

Date February 13, 2020
Target Butternut Box
Sector Food
Investor(s) L Catterton Partners
General Atlantic
Deal Type Growth Capital
Advisor(s) Houlihan Lokey (Financial)
Orrick (Legal)

Target Company

Butternut Box

London, United Kingdom
Butternut Box is a human-grade, cooked fresh dog food company in Europe. Butternut’s highly personalised dietary offering and digital approach enable customers to experience a new category of fresh, healthy dog food with unsurpassed quality, convenience and affordability. Butternut Box was founded in 2016 and is based in London, United Kingdom.
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Investors Overview 2

Investor

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 37.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


Deal Context for Investor #
Overall 165 of 223
Sector: Food 14 of 19
Type: Growth Capital 67 of 91
Country: United Kingdom 6 of 8
Year: 2020 2 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-12 Beanitos

Austin, Texas, United States

Beanitos LLC is an all-natural, high fiber, high protein, gluten-free snack company with a variety of bean-based chip products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-20 CareDENT Italia Srl

Grassobbio, Italy

Bistar Commerciale S.r.l. is a network of dental centers that takes care of dental health. CareDENT Italia was formed in 2009 and is based in Grassobbio, Italy.

Sell -
Investor

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


Deal Context for Investor #
Overall 238 of 365
Sector: Food 3 of 4
Type: Growth Capital 99 of 139
Country: United Kingdom 14 of 22
Year: 2020 3 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-07 Creative Planning

Overland Park, Kansas, United States

Creative Planning is an independent wealth management firm that provides a financial planning led investment management approach, retirement planning, estate planning, trust services, tax advice and family office services for individuals as well as 401(k) and institutional money management. Creative Planning is based in Overland Park, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 CANbridge

Suzhou, China

CANbridge is a biotechnology company focused on developing and commercializing rare disease therapeutics in China. CANbridge was founded in 2012 and is based in Suzhou, China.

Buy -

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