THE WHAT? L Catterton has announced that it is forming a joint venture with Sanjiv Mehta, the former CEO of Hindustan Unilever. The new entity will be an investment vehicle targeting India’s consumer market.

THE DETAILS According to a report published by Reuters, the partnership will combine L Catterton’s global reach with Mehta’s regional expertise to identify and invest in the country’s consumer sector. Mehta will assume the role of Executive Chairman.

THE WHY? L Catterton Global Co-CEO, Michael Chu, told Reuters, “With India now having the world’s largest population and generating high GDP growth, there has never been a better time to deepen our commitment to the market and invest in the consumer businesses that will shape the landscape of tomorrow.”