L Catterton Invests in Japanese Vet Services Firm Withmal (1)

L Catterton, the private equity firm backed by luxury French fashion house LVMH, has made a strategic investment in Japanese veterinary services company Withmal Inc.

The announcement, which confirmed an earlier Bloomberg News report, didn’t include any financial details of the transaction. L Catterton was close to a deal to buy a majority stake in Withmal, taking the buyout firm’s investment in the pet care sector in Asia to about $200 million over the last 18 months, people familiar with the matter have said.

Founded in 2018, Withmal runs more than 20 pet clinics across Japan, the ...