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Bloomberg
A Brazilian supermarket chain controlled by L Catterton, the private equity firm backed by French billionaire Bernard Arnault, has chosen banks for a potential initial public offering that could raise as much as 800 million reais ($159 million), people familiar with the matter said.
Sao Paulo-based Grupo St Marche is working with Banco Santander Brasil SA, Banco Itau BBA SA and Banco BTG Pactual SA for a possible listing on Brazil’s local exchange, the people said, asking not to be identified because the information isn’t public. Talks are still in early stages and the company could end up scrapping the transaction altogether, the people said.
Representatives for St Marche, Itau and Santander declined to comment. BTG and L Catterton didn’t reply to messages seeking comments.
L Catterton manages more than $28 billion globally, and owns consumer brands including German sandal-maker Birkenstock and cosmetics firm Bliss. It was created in 2016 by combining US investment firm Catterton with the private equity operations of luxury French fashion house LVMH and its founder Arnault.