Alta Growth Capital announced an investment in Mexican pet retailer Maskota (“+KOTA”) for an undisclosed amount.
(Press Release) Mexico, D.F. January 17th, 2017. – Alta Growth Capital (“AGC”) announced that it has completed an investment in Maskota (“+Kota”), the leading pet retailer in Mexico with more than 280 stores across the country. +KOTA, founded by Murry and Isaac Tawil in 1994, is the largest specialty retailer of pet food, live animals, and pet-related products and is identified as the most well-known pet-related brand in Mexico.
“We believe +KOTA has a significant opportunity to continue growing and this partnership will help take the company to the next level.” said Murry Tawil founder of +KOTA, “Alta will not only bring further institutionalization to the Company but also be a key partner in revamping +KOTA’s value proposition.”
“We are excited to partner with +KOTA’s founders and together shape the future direction of the pioneer of pet retailing in Mexico” said Javier Garcia Teruel, Managing Director at AGC. “We have an ambitious plan to considerably increase the current footprint, and +KOTA’s strong brand recognition will help us be successful in this expansion.”
The pet retail industry projects very positive growth rates. Pet humanization trends are leading to sector premiumization. Furthermore, the penetration of super premium pet food remains quite low as compared to more developed economies. Rafael Payro, Managing Director at AGC, commented “We believe our partnership will ensure +KOTA capitalizes on operating in an industry with such significant growth potential”
Equity capital for the transaction was provided by Alta Growth Capital, Mexico Fund II.