Company to Leverage L Catterton's Global Pet
Industry Experience to Accelerate Veterinary Platform Expansion in
Brazil
GREENWICH, Conn., Nov. 18,
2024 /PRNewswire/ -- L Catterton, a leading
global consumer-focused investment firm, today announced that it
has made a strategic investment in WeVets (the "Company"), a
leading independent veterinary hospital group in Brazil operating 24-hour centers and
diagnostic labs, making high-quality veterinary care more
accessible throughout Brazil.
Founded in 2020, WeVets has quickly expanded to 15 hospitals and
two labs in São Paulo and Rio Grande do Sul providing comprehensive
veterinary care, including primary and urgent care, surgery,
diagnostics, and specialties, leveraging a tech-driven model to
deliver a superior experience for pets and their parents. L
Catterton's investment will support WeVets' long-term growth and
strategic objectives, including continued hospital expansion across
Brazil, both through acquisitions
and organic expansion.
"At WeVets, our mission is to become the leading vet hospital
platform in Brazil," said
Chang Lee, Founder and Chairman of
WeVets. "L Catterton is the ideal partner to help us build
on the Company's rapid growth since our founding. The firm shares
WeVets' commitment to delivering quality care and being the partner
of choice for veterinary doctors who need more specialized
diagnostics and treatment for their pet patients."
"The Brazilian pet market remains highly fragmented, and we see
ample opportunities to scale our model based on exceptional
technology and service," said Rodrigo
Pinheiro, CEO/COO and Founder of WeVets. "With L
Catterton's phenomenal expertise supporting successful pet-focused
businesses globally, we are confident they can help WeVets achieve
world-class standards."
"This partnership with WeVets is an attractive opportunity to
continue building the one-stop destination for high quality pet
care in the third largest pet market globally," said Ramiro Lauzan, a Partner in L Catterton
Latin America. "Chang, Rodrigo, and the WeVets team have developed
a winning formula built on operational excellence and a seamless
customer experience. With our support, we are confident WeVets can
achieve its ambitious goals of becoming the leading independent
player in the pet-care space in Brazil."
L Catterton has significant experience investing in and
building brands within the pet care space globally, including
Alliance Animal Health, Butternut Box, Canidae, Drools,
Harringtons, Instinct, JustFoodForDogs, Lily's Kitchen, Wellness
Pet Food, Partner Pet, Petlove, PetVet Care Centers, Pure &
Natural, Rachael Ray Nutrish, Sploot Veterinary Care, and Withmal.
In Latin America, current
investments include Despegar (NYSE: DESP), NotCo, Odonto Company,
Espaçolaser, Ben & Frank, and Crediclub, among others.
About L Catterton
L Catterton is a
market-leading consumer-focused investment firm, managing
approximately $35 billion of equity
capital across three multi-product platforms: private equity,
credit, and real estate. The firm's funds have the ability to
invest between $5 million and
$5 billion, across the capital
structure, in well-positioned consumer businesses. Leveraging deep
category insight, operational excellence, and a broad network of
strategic relationships, L Catterton's team of more than 200
investment and operating professionals across 17 offices partners
with management teams to drive differentiated value creation across
its portfolio. Founded in 1989, the firm has made over 275
investments in some of the world's most iconic consumer brands. For
more information about L Catterton, please visit
www.lcatterton.com.
About WeVets
WeVets is a leading veterinary hospital
group in Brazil, operating 24-hour
centers and diagnostic labs in São Paulo and Rio Grande do Sul.
Founded in 2020, WeVets has grown to 15 hospitals and two labs
providing comprehensive veterinary care, including both primary and
urgent care, surgery, diagnostics, and specialties, leveraging a
tech-driven model to deliver a superior experience for pets and
their parents. For more information, please visit
wevets.com.br.
CONTACTS
L Catterton
Julie Hamilton (U.S.)
media@lcatterton.com
+1 203 742 5185
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SOURCE L Catterton