The Chinese pet food company Partner Pet has received an investment by the American investment firm L Catterton. In order to strengthen the dried pet food company’s position on Chinese market, L Catterton also offers its knowledge in the pet food sector.
According to the investor, premium and high-end products ensure a strong growth of Chinese pet food market. Freeze-dried, kibble plus, and wet foods products constituted for one-quarter in 2020, around one-sixth in 2018 and are expected to grow accounting for half of the market by 2025. Over the past three years, Partner Pet could twelve-foldy increase its sales.
Established in 2016, Partner Pet sells its products online and offline in around 20,000 stores across China.
After L Catterton’s first investment in Enova last year in February, Partner Pet ist he company’s second investment in Chinese pet food business.