L Catterton Brings in IFC to form a Strategic Partnership with CantuStore

GREENWICH, Conn. and SÃO PAULO, Oct. 12, 2023 /PRNewswire/ -- CantuStore, the leading omnichannel aftermarket tire retailer and distributor in Brazil, today announced that IFC, the largest global development institution focused on the private sector in emerging markets, has joined L Catterton, a leading global consumer-focused investment firm, as a co-investor in CantuStore. Terms of IFC's investment were not disclosed.

In November 2022, L Catterton announced an investment in CantuStore. Since then, the Company has continued to grow organically and opened an office in Luxembourg to support its international presence. CantuStore has also successfully executed on M&A, with the acquisitions of technology company Verum, U.S.-based cargo tire specialist DigiTire, and Off-The-Road tire company, Gripmaster.

With IFC's investment, CantuStore expects to build on its continued success in disrupting Brazil's aftermarket tire sector through further expansion as well as increase access to modern and affordable quality tires for all Brazilians, including those in remote and underserved regions. IFC's investment provides CantuStore with significant growth capital and the ability to leverage additional resources to support the company's continued investments in people, technology, and processes, while improving and promoting sustainable business practices.

"Since L Catterton's initial investment last year, we have developed a collaborative partnership and made significant progress on our growth efforts," said Beto Cantu, Founder and Chief Executive Officer of CantuStore. "We appreciate L Catterton's support in identifying IFC as a co-investor. Their co-investment validates our commitment to continue developing and investing in actions with environmental, social, and governance impact, which will help us pave the way to build our business in an increasingly sustainable and safe way."

"We are incredibly proud of CantuStore's progress across all channels, capitalizing on a number of exciting opportunities within Brazil's aftermarket tire category. We are confident that IFC's support will be crucial in our effort to continue growing the company in a more sustainable and socially responsible manner," said Julio Babecki, a Partner in the Latin America Fund of L Catterton.

"IFC shares our conviction in CantuStore's growth potential and recognizes the company's strong sustainable operations. We are pleased to partner with them as we continue to support the company's vision and success across the transportation industry in Brazil and around the world," said Farah Khan, a Managing Partner in the Latin America Fund of L Catterton.

"We are excited about the opportunity to join forces with L Catterton as a co-investor in CantuStore," said Mohan Krishna Chimalakonda, Investment Professional at IFC. "We have long admired CantuStore because of its firm commitment to driving sustainability in the tire sector and improving the value chain. CantuStore's sustainability goals are well aligned with our mission to transform ideas into investments for green growth, inclusive jobs, and impactful projects, and we look forward to supporting the company in building on its success for years to come."

About CantuStore
Founded in 2006, CantuStore is the leading omnichannel tire aftermarket distributor and retailer in Brazil, offering a differentiated value proposition through multiple sales channels fueled by a robust online strategy. The company has disrupted a fragmented and poorly served category driven by its unique digital capabilities, national presence, best assortment depth across almost all tire segments, private label, and innovative value-add services such as tire installations.

CantuStore operates under two brands, CantuPneus, the leading Brazilian tire importer and distributor for fleet owners and resellers, and PneuStore, the largest tire e-commerce platform in Brazil. Located in Itajaí, Santa Catarina, CantuStore has five Distribution Centers and over 40 branches across all regions of Brazil to offer complete tire solutions. For more information, visit: www.cantustore.com.br.

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About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. IFC works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $44 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

Media Contact

CantuStore Capital Informação – Press Office
Ricardo Varoli – [email protected] +55 11 99315 3522
Mariana Lima – [email protected] +55 82 99971 3558
Tel: +55 11 3926-9517 or 3926-9518

L Catterton
Julie Hamilton
Managing Director, Firm Communications
[email protected]
203.742.5185

SOURCE L Catterton