The private equity firm handles more than $28 billion in equity capital.
The owner of bartaco and Barcelona Wine Bar is considering a move to the stock market, according to Reuters.
Private equity firm L Catterton, which handles more than $28 billion in equity capital, has recently talked with investment banks to evaluate the possibility of either an IPO or a merger with a special acquisition company. Reuters reported that L Catterton is in the early stages and no final decision has been made. The firm is backed by billionaire Bernard Arnault, who is CEO of Louis Vuitton Moet Hennessy. Arnault is currently the second-richest man in the world at $186.1 billion.
The firm purchased Del Frisco’s for $650 million in 2019, and then sold Double Eagle Steakhouse and Del Frisco’s Grille to Landry’s, a restaurant conglomerate run by billionaire Tilman Fertitta. That left L Catterton with bartaco and Barcelona, which operate as separate businesses.
In addition to bartaco and Barcelona Wine Bar, L Catterton has a majority investment in Anthony’s Coal Fired Pizza & Wings, Uncle Julio’s, and Primanti Bros, and a minority stake in Noodles & Company, Chopt, and Hopdoddy Burger Bar. Past investments include Bloomin’ Brands, P.F. Chang’s, Edible, Cheddar’s Scratch Kitchen, Baja Fresh Mexican Grill, First Watch, and Caribou Coffee.
L Catterton formed in January 2016 through a partnership between Catterton, Louis Vuitton Moet Hennessy, and Groupe Arnault. The deal combined Catterton’s North American and Latin American private equity operations with Louis Vuitton Met Hennessy and Groupe Arnault’s European and Asian operations. When it comes to investments, L Catterton described its approach as “truly understanding what matters most to consumers in order to subsequently identify the specific categories and companies that will benefit from those consumer preferences,” according to its website.
Barcelona and bartaco aren’t the only full-service chains eyeing the stock market. In February, Fertitta Entertainment, which includes Golden Nugget Casinos and Landry’s, agreed to join Fast Acquisition Corp. in a deal that will value the company at $8.6 billion.