Little Moons, a UK-based desserts business, has sold a “significant” minority interest to US private-equity firm L Catterton.
Founded in 2010 by brother and sister Howard and Vivien Wong, Little Moons makes ice cream wrapped in a mochi dough. The products are sold into foodservice and UK retailers, including Tesco, Sainsbury’s, Asda and Morrisons. Little Moonds also exports to Europe.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
L Catterton, headquartered in Connecticut with US$30bn of assets under management, has invested in the business via its European arm. Financial terms were not disclosed.
In 2020, Little Moons spent GBP3.5m (then $4.5m) on a new factory in Park Royal, London, while retaining its existing plant in Neasden in the UK capital.
Mr Wong said: “This transaction marks an exciting milestone for Little Moons, which began as a small family business 12 years ago, as we capitalise on the explosive demand for our mochi ice cream, both in the UK and internationally.
“We firmly believe that, in L Catterton, we’ve found a partner that shares not only our ambitions but also our values, and their support will help us to scale our reach globally.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataL Catterton has made a number of investments in the pet-food category, most recently marking its entry to China with an undisclosed stake in the Pure & Natural brand owner Shanghai Enova Pet Products.
In human foods, L Catterton acquired a majority stake last year in US-based bakery Kodiak Cakes. It also led a $105m Series B round in Aleph Farms, a cell-based meat business in Israel.
Jean-Philippe Barade, a partner at its European arm, said: “Little Moons has developed a market-defining brand with significant global expansion potential. We see a tremendous opportunity to accelerate growth and expansion not only within the attractive and growing premium ice-cream category, but also within the even larger premium snack category.”
