Private equity firm HIG Capital has completed a strategic investment in Mr Cat, a Brazilian footwear company headquartered in Rio de Janeiro.
Present in 26 Brazilian states through more than 200 dedicated stores, Mr Cat offers a complete footwear portfolio for men and women, as well as accessories under the nationally recognized Mr Cat brand. The investment will support the company’s aggressive expansion plan through dedicated stores, other sales channels and international expansion.
“We are very excited to have HIG as a partner. Their ability and experience in helping companies grow will be of great value to Mr Cat. With HIG’s support, we will accelerate the opening of new stores and distribute our products through new sales channels, reaching more customers countrywide. We are confident that by maintaining our focus on our quality and comfort standards, attention to our franchisees, employees and customers, Mr Cat will continue to grow on its solid foundations,” says Ari Svartsnaider, founder of Mr Cat. Current shareholders will remain shareholders after HIG’s investment.
Fernando Marques Oliveira, Managing Director and Head of HIG Brazil and HIG Latin America, said: “We are very pleased to have the opportunity to help Mr Cat’s management team continue this tremendous success story. We are very excited with the ability of Mr Cat to continue its expansion plan despite the current difficult macroeconomic environment.”
