L Catterton Receives 2018 Operational Excellence Award from Private Equity International for Operating Value Creation at Ainsworth Pet Nutrition

News provided by

Oct 01, 2018, 08:30 ET

GREENWICH, Conn., Oct. 1, 2018 /PRNewswire/ -- L Catterton, the largest and most global consumer-focused private equity firm in the world, is honored to have been awarded Private Equity International's (PEI) 2018 Operational Excellence Award in connection with its investment in Ainsworth Pet Nutrition. This award follows L Catterton being named 2017 Global Consumer Private Equity Firm of the Year by PEI, among a number of other recent accolades, including earning the same Operational Excellence Award for the upper mid-market in connection with its investment in Restoration Hardware in 2014.

As described by PEI, these awards honor the GPs that have done the most to transform portfolio companies, celebrating the industry's best value-creation stories across all sectors that show how fund managers deliver operational value as owners. A group of judges comprised of some of the leading scholars and operational experts in the private equity industry assessed the merits of each submission across the Americas, EMEA and Asia-Pacific.

Together with L Catterton, Ainsworth implemented a strategic plan focused on marketing and operational enhancements, including expanding the Nutrish® brand by capitalizing on its value proposition, growing Ainsworth's super and ultra premium pet food offerings, forming strategic partnerships with key retailers, launching innovative new products, and driving manufacturing cost reductions and operational efficiency improvements. With these initiatives, in just four years, Ainsworth grew Nutrish® revenue more than sixfold, expanded Nutrish® distribution in the food, drug and mass channel by over 3x, and significantly enhanced gross margins.

"We are honored to be recognized by PEI for our extensive work with Ainsworth, a pioneering natural pet food company that has evolved into a market leader," said Scott Dahnke, Global Co-CEO of L Catterton. "Since investing in Ainsworth in 2014, we worked closely with the Lang family and management to maximize the value of the business. We are proud of our work with the Ainsworth team and are pleased to have played a key role in helping the company achieve such tremendous success."

"At L Catterton, our aim is to partner and work closely with talented management teams at world-class companies to transform consumer businesses and take them to the next level," said Michael Chu, Global Co-CEO of L Catterton. "The dramatic growth achieved at Ainsworth is a great example of how we work with our portfolio companies, and we are thrilled that our team has been recognized for their hard work and operational acumen yet again by PEI."

About L Catterton

With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton's team of more than 160 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.

Contacts

Andi Rose / Julie Oakes
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE L Catterton