Sorainen advised L Catterton, one of the world’s leading private equity investment companies focused on investing in consumer segment companies and brands, on its acquisition of a majority stake in Stenders, a Latvian-based premium bath and body care products manufacturer.
About the transaction
The deal is expected to accelerate Stenders’ international expansion and strengthen its position in the Asian, European, Middle East and US markets. Stenders has successfully positioned itself on several continents as an expert on bath products, and the company expects to develop further with its socially responsible business approach, highlighting sustainability and wellbeing in the markets it has entered.
The investor values the company’s focused activities across 20 countries, as well as its e-commerce channels and more than 300 stores worldwide, which have enabled Stenders to increase its consolidated turnover by around 20% annually for the last four years. The brand has thus been able to deliver consistent sales growth with high conversion and repeat purchase rates.
“Consumers in the bath and body care segment are gradually moving towards higher quality products and we expect this trend to continue, as has been the case with face and hand care products. Thanks to brand values and products that resonate with the target audience, Stenders has been able to intelligently exploit market changes and evolve with consumer demands. We look forward to working with the company’s management team to set and achieve even higher goals,” says Scott Chen, managing partner at L Catterton.
Our services and client team
The Sorainen team assisted with the transaction with in-depth legal and tax due diligence on the target company, advised the client on various issues related to Latvian law during the transaction negotiation process, and provided legal assistance in completing the transaction.
Our core team for transaction included partners Nauris Grigals, Jānis Taukačs, Aija Lasmane, senior associate Līva Aleksejeva, associates Alise Igale, Ieva Zariņa, associate Kristiāns Dzerkaļs, associate Kate Berlaua, senior associates Zane Akermane un Zanda Frišfelde un senior associate Māris Simulis.
