Just Food/ Private-equity firm L Catterton has entered the Chinese pet-food market with an undisclosed investment in Pure & Natural brand owner Shanghai Enova Pet Products.
Set up in 2009 by CEO Herman Zhao to serve the premium segment, Enova supplies dog and cat food. No details of the company’s sales and profits, nor the size of the investment, were revealed by Connecticut-based L Catterton, which has around US$30bn of assets under management.
Zhao said: “With a focus on science and pets’ natural diets, we are committed to producing pet food with balanced nutritional profiles and high-quality ingredients.
“L Catterton’s investment will catalyse the next stage of our growth as the firm has an abundance of world-class strategic and operating expertise in the pet-food space which we can harness to further build the Pure & Natural brand, drive top-line growth, and broaden our suite of products.”