MEXICO CITY and GREENWICH, Conn., Feb. 6, 2019 /PRNewswire/ -- Grupo MYT, one of the largest portfolios of fully owned restaurant brands in Mexico, today announced that it has received a significant strategic investment from the Latin America fund of L Catterton, the largest and most global consumer-focused private equity firm. L Catterton's investment will be used to support and accelerate Grupo MYT's expansion and growth throughout Mexico. Terms of the transaction were not disclosed.
Founded in 2003 by brothers, Carlos, Andrés and Alfredo Mier y Terán, Grupo MYT designs, builds and operates restaurant models for the casual food segment in Mexico. Through its collaborative culture, Grupo MYT offers unique restaurant experiences built around excellent food, friendly and attentive service, distinctive architecture and innovative branding concepts. Grupo MYT's distinct portfolio includes Moshi Moshi, an innovative Japanese casual dining restaurant; La Imperial, a polished casual Mexican restaurant and cantina; Cocina Abierta, a full-service multi-genre food hall; and La Crepe Parisienne, a kiosk format offering freshly made sweet and savory crepes and coffee bar.
"This partnership recognizes the tremendous efforts and hard work of the Grupo MYT team and demonstrates the high growth potential of our distinctive restaurant concepts," said Carlos Mier y Terán, Chief Executive Officer of Grupo MYT. "With global resources and a local focus, L Catterton has a deep understanding of the Latin American consumer. Their team brings unparalleled expertise in the restaurant space, and with their support, we look forward to further enhancing the culinary experience for our customers, growing our operations, continuing to build and grow our brands in Mexico and expanding our talented team at all levels."
"Grupo MYT offers unique casual dining experiences with broad consumer appeal," said Julio Babecki, Managing Partner, L Catterton Latin America. "With a proven track record of creating, developing and successfully operating experiential restaurant concepts, Grupo MYT is poised for continued success in Mexico's growing casual dining category. We are delighted to partner with Carlos, Andrés, Alfredo and Grupo MYT's growing team to accelerate their expansion and bring new and innovative restaurant concepts to life."
"With an impressive portfolio of restaurant concepts focused on the most relevant and fastest-growing cuisine genres in Mexico, Grupo MYT is ideally positioned for continued growth," said Farah Khan, Partner, L Catterton Latin America. "We look forward to partnering with Grupo MYT's talented management team to capitalize on the brand's significant white space growth opportunity in the years to come."
L Catterton has significant experience investing globally in the restaurant sector, including investments in P.F. Chang's, Anthony's Coal Fired Pizza, Chopt Creative Salad Company, Hopdoddy, Cheddar's Scratch Kitchen, PIADA, First Watch and Velvet Taco. In Latin America, current investments include Cholula, Luigi Bosca, St. Marche, Rapsodia, Femme – Laboratório da Mulher, Espaçolaser, and Bodytech.
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm. L Catterton's team of more than 150 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.
About Grupo MYT
Grupo MYT designs, builds and operates innovative, fun and scalable casual restaurant brands in Mexico. The company currently operates 36 units across four different concepts, each curated and managed by a multidisciplinary team of nearly one thousand talented, passionate, and impact-driven individuals focused on executing a superior level of hospitality and service. The company's casual dining brands include: Moshi Moshi, an innovative Japanese casual dining restaurant; La Imperial, a polished casual Mexican restaurant and cantina; Cocina Abierta, a full-service multi-genre food hall; and La Crepe Parisiene, a kiosk concept offering freshly made sweet and savory crepes and coffee. Grupo MYT was founded by brothers Carlos, Andrés and Alfredo Mier y Terán in 2003 and is headquartered in Mexico City. For more information about Grupo MYT, please visit www.grupomyt.com.
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SOURCE L Catterton