Premium fishing gear maker Megabass has partnered with consumer-focused investment firm L Catterton to aid expansion amid strong demand for its products, the Japanese company said in an announcement on Friday.
The partnership, DealStreetAsia understands, is a buyout deal.
Megabass, whose biggest markets are Japan and the US, says it is witnessing strong revenue growth across geographies led by casual anglers looking to turn proficient.
Since its founding in 1986—by the well-known bass angler Yuki Ito—the fishing gear maker has grown in reputation winning multiple awards and being endorsed by popular anglers in Japan and the US where it entered in the 2000s. The company offers a wide range of fishing equipment like lures, baits and rods for freshwater and saltwater fishing sold through retailers and e-commerce channels like Amazon.
L Catterton is a leading consumer-focussed investment firm managing around $35 billion of equity capital across private equity, credit and real estate asset classes. In 2023, it had announced a strategic investment in Japanese veterinary services group Withmal to help it expand in the country’s growing veterinary services market.