Mexico-based restaurant brands operator Grupo MYT has secured a significant strategic investment from global private equity firm L Catterton.
The restaurant company will use the funds to support and accelerate its expansion and growth across Mexico. Terms of the deal were not disclosed.
Grupo MYT CEO Carlos Mier y Terán said: “This partnership recognises the tremendous efforts and hard work of the Grupo MYT team and demonstrates the high growth potential of our distinctive restaurant concepts.
“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.”
Established in 2003, Grupo MYT designs and operates various restaurant models for the casual food segment in the country. It was founded by brothers Carlos, Andrés and Alfredo Mier y Terán.
Brands operated by the company include Japanese casual dining restaurant Moshi Moshi; casual Mexican restaurant and cantina La Imperial; full-service multi-genre food hall Cocina Abierta; and La Crepe Parisienne kiosk format.
L Catterton Latin America partner Farah Khan said: “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.
“We look forward to partnering with Grupo MYT’s talented management team to capitalise on the brand’s significant white space growth opportunity in the years to come.”
L Catterton has made investments in various Latin American restaurant brands such as Cholula, Luigi Bosca, St. Marche, Rapsodia, Femme – Laboratório da Mulher, Espaçolaser, and Bodytech.