Waterland invests in Terr’Asia to accelerate its growth in France and across Europe
Paris / Lyon, 1 October 2026 – Waterland Private Equity has taken a stake in Terr’Asia, a French integrated supplier of authentic Asian and Mexican food based in Saint-Genis-Laval, near Lyon. Working alongside the management team, Waterland is backing a business that has more than doubled its revenue in five years, with the ambition of building a European leader in its sector. Waterland is investing in partnership with the management team, which is increasing its stake and will continue to run the business.
Thirty years built on authenticity
Founded in 1993, Terr’Asia imports and distributes a range of 240 Asian and Mexican food products in France and across Europe, from rice and instant noodles to coconut products and sauces, including soy sauce. The business has grown organically at close to 20% a year since 2021.
Its model rests on a proprietary sourcing network built up over more than twenty years, with some forty producers supplying it directly from Thailand, China, Vietnam, Cambodia, Pakistan, Sri Lanka, Japan and Mexico — the foundation of an authentic Asian and Tex-Mex range. Quality control and buying are handled in-house, which allows Terr’Asia to give its customers a better level of service.
Terr’Asia sells through every channel — grocery retail, foodservice and specialist stores — and supplies more than 6,000 independent retailers and wholesalers. It combines the exclusive distribution of leading Asian brands with the development of its own brands and a private-label business.
Accelerating growth in France and Europe
Waterland’s investment will support Terr’Asia on three fronts. The first is to strengthen its positions in grocery retail and foodservice, two channels where it already holds solid listings. The second is to broaden the range into other world cuisines, in particular by developing its Tex-Mex offer. The third is targeted acquisitions in France and across Europe, with the longer-term ambition of bringing complementary businesses together into a European platform for authentic world food.
Thomas Luttrin, President, Terr’Asia: “Over thirty years, we have moved from sourcing for third parties to a fully integrated model, from choosing the producers through to getting the product on the shelf, with brands that consumers recognise and partners who have trusted us for more than twenty years. To take the next step, we needed a shareholder who could back our organic growth and our acquisition plans at the same time. Waterland brings that industrial experience, and an entrepreneurial culture that keeps our teams, our suppliers and our customers at the heart of the business.”
Pierre Naftalski, Principal, Waterland: “Terr’Asia is exactly the kind of entrepreneurial story we like to back: a strong position in a growing market with robust fundamentals, a team whose sourcing and innovation put quality products in front of consumers at the right price, and considerable room to grow. Asian food has become a permanent fixture in French and European eating habits, and the market is still highly fragmented. Our ambition is to work with the team to make Terr’Asia Europe’s leading platform for world cuisines.”
About Terr’Asia
Founded in 1993 and based in Saint-Genis-Laval, near Lyon, Terr’Asia is a French integrated supplier of authentic Asian and Mexican food. Its range covers 240 products across some fifteen brands, sold to grocery retail, foodservice and specialist stores in France and internationally.
For more information, please visit terrasia.fr .
Press contacts:
Olivia Andrez | oliviaandrez@gmail.com
Laurence Van Doosselaere | press@waterlandpe.com