L Capital Asia Said in Food Deal

Source says private equity fund has acquired a stake in Australian food and beverage firm.

SINGAPORE — L Capital Asia, the private equity fund set up by LVMH Moët Hennessy Louis Vuitton, has acquired a stake in an Australian food and beverage company, according to an industry source.

L Capital, which only takes minority positions, is to announce the deal in August, the source added.

In an interview with WWD earlier this year, Ravi Thakran, L Capital Asia’s managing partner, said that his fund was looking into an Australian food and beverage company that was planning to expand in Asia. He did not name it.

Thakran has cited China, which has faced several food security scares in recent years and has a burgeoning population willing to pay a premium for safe food, as an important emerging market for food and beverage providers.