L Catterton Invests in China’s Top Freeze-Dried Pet Food Company Partner Pet
Leveraging L Catterton’s operating abilities will enable the organization scale amid the strong development of the class
SHANGHAI, Feb. 14, 2023 /PRNewswire/ — L Catterton, a major global client-concentrated financial investment agency, nowadays announced that it has invested in Associate Pet, the top domestic premium freeze-dried pet foods corporation in China. The expenditure, coupled with L Catterton’s expertise in the pet food sector, will help Partner Pet to cement its leading position in the fastest-growing segments of the country’s pet food market. This also marks another step forward as L Catterton continues to play out its broad pet meals system in China.
Underpinned by macrotrends this kind of as increasing disposable incomes and the increasing humanization of animals, China’s pet foods market is increasing exponentially, with the top quality and superpremium price segments driving most of the growth. Similarly, the freeze-dried, kibble+, and wet food stuff format segments are growing the most rapidly and are together expected to account for around half the market by 2025, up from approximately one-quarter in 2020 and less than one-sixth in 2018.
Capturing the surge in desire for such products, Associate Pet’s profits have risen twelvefold over the previous 3 yrs as the corporation constructed on its guide in the freeze-dried section to also attain pole placement in the kibble+ segment. Its variety of goods in these segments are identified for their palatability and balanced nutritional profiles, and have the ideal conversion and repurchase premiums amongst all area gamers in the place. Differentiating the company from its opponents, Spouse Pet is also regarded as the pioneer and a expert of biologically-ideal uncooked food stuff offerings in the country’s pet food market. The business has started to enter the damp foodstuff phase as effectively.
Given that its founding in 2016, Spouse Pet has recognized an substantial existence spanning offline and on-line channels in China. Its merchandise are bought in all around 20,000 merchants throughout the place and outperform other insurgent domestic manufacturers in these kinds of suppliers. The firm has a burgeoning immediate-to- shopper small business as properly, primarily by means of its Tmall flagship store, and is also active on other ecommerce platforms like JD.com, Taobao, and TikTok.
“China’s pet foodstuff market place has demonstrated resilient growth about the past couple of a long time and its growth is anticipated to proceed unabated, as people significantly search for healthy food stuff for their animal companions regardless of economic oscillations,” commented Scott Chen, a controlling companion in the Asia fund of L Catterton. “Geared up with prolific new item advancement abilities, Spouse Pet has captivated consumers with its higher-high quality offerings and its ascent demonstrates its capability to harvest correct demand and win customer loyalty. We are excited to start out functioning with its administration workforce to further more scale up its company.”
Partner Pet founder and CEO Zhi Qiao included, “Additional and a lot more people are exploring the joys of having animal good friends and are creating stronger bonds with their pets. We hence find to help them maximize the high-quality and length of their lives collectively by delivering them with healthful food stuff that fit pets’ normal diet programs. L Catterton’s observe history of producing benefit in the pet foods house is 2nd to none and we believe that we can leverage its confirmed working abilities to achieve our mission. We seem forward to benefitting from its brand building, distribution, and supply chain optimization expertise.
L Catterton has significant experience building brands globally in the pet food space. Current and past investments contain Butternut Box, Canidae, Impressed Pet Nutrition, Instinct®, JustFoodForDogs, Lily’s Kitchen area, Old Mother Hubbard®, Petlove, Pure & Normal, and Rachael Ray® Nutrish®.
About L Catterton
L Catterton is a market-foremost customer-focused investment organization, running far more than $30 billion of fairness cash throughout a few multi-item platforms: personal fairness, credit score and true estate. Leveraging deep classification insight, operational excellence, and a wide community of strategic relationships, L Catterton’s workforce of more than 200 expense and functioning industry experts throughout 17 offices companions with management groups to travel differentiated value creation across its portfolio. Started in 1989, the organization has created in excess of 250 investments in some of the world’s most legendary buyer brands. For a lot more info about L Catterton, please visit lcatterton.com.
About Partner Pet
Companion Pet is a leading domestic high quality pet food manufacturer in China and has developed due to the fact its founding in 2016 to turn out to be the country’s major freeze-dried pet foods brand. Getting the pioneer of biologically suitable raw foodstuff (“BARF”) offerings in China, it is also viewed as by individuals to be a BARF expert. Acknowledged for their palatability and balanced dietary profiles, its products appreciate ideal-in-course conversion and repurchase prices, and customers are robust advocates of the brand name. It is vertically built-in and has an substantial existence throughout offline and on the internet channels in China.
CONTACTS
L Catterton
Julie Hamilton (U.S.)
[email protected]
+1 203 742 5185
Bob Ong / Bonnie Gan (Asia)
[email protected] / [email protected]
+65 6672 7619 / +86 10 8555 1807
PartnerPet
Laurie Zhou
[email protected]
+86 138 1765 9422
Supply L Catterton
