L Capital Asia, a fund sponsored by France fashion house LVHM has taken an undisclosed percentage stake in leading Australian food retailer Jones the Grocer (JTG) for an undisclosed sum.
The investment follows JTG’s recent double acquisition of its Singapore branch, and the loss-making Australian chain Becasse Bakery and Charlie & Co.
Ravi Thakran, managing partner of L Capital Asia. said that the company is poised to grow five-fold in five years as it begins to establish market presence in North Asia, South East Asia and the Middle East.
Speaking after the agreement John Manos and Esther Iachelini, co-directors of JTG said: “L Capital Asia’s investment in JTG is a significant endorsement of the strength and success of the brand today and its potential for the future.”