L Catterton Latin America Makes Strategic Investment in WeVets
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.)
[email protected]
+1 203 742 5185
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SOURCE L Catterton