Megabass has entered into a strategic partnership with global investment firm L Catterton. The deal positions the Japan-headquartered fishing gear manufacturer for continued expansion by leveraging L Catterton’s operating capabilities and industry network as demand for its products increases.
“Consumer expenditure on fishing gear in Japan and the U.S., Megabass’ two largest markets, has been on an uptick and is expected to continue growing as casual anglers increasingly seek to become more proficient and purchase high-quality products to aid in their quest,” L Catterton said in a media release. “This trend is providing secular tailwinds for Megabass, given the brand’s suite of stellar fishing lures, bait and rods which can be used across locales such as rivers, lakes and seas.”
Founded in 1986 by bass angler Yuki Ito, Megabass uses traditional craftsmanship and technologies in the manufacture of its product line. Reported to be “anchored in Ito’s high-performance mindset,” the company’s products have gained a reputation for their “effectiveness and trustworthiness.” They have also won international and domestic design awards across multiple years, including the Red Dot Design Award, iF Design Award and Good Japan Design Award.
The company has cultivated a loyal following among the angling community in Japan and internationally, especially in the U.S.
Megabass reports that total revenue has grown steadily, with contributions from overseas markets also increasing.
Megabass and L Catterton will reportedly work closely together to drive growth for Megabass amid consumers’ greater propensity to spend on premium fishing gear in its key markets. The company’s combined focus will initially be on “thoughtfully” ramping up Megabass’ production capacity and strategically expanding its distribution network by leveraging L Catterton’s category expertise.
L Catterton said it has solid experience building outdoor brands worldwide, with current and past investments in the space including Airxcel, Heartland RVs, Open Road Resorts, and RealTruck.
The firm remains a majority shareholder in Birkenstock and also owns West Marine, 2XU, and Taxa Outdoor. In the health and wellness space worldwide, current and past investments include Peloton, Equinox, EGYM, Soul Cycle, CorePowerYoga, FlyWheel, Pure Barre, Xponential Fitness, Tonal, Hydrow, BodyTech, ClassPass, and iFIT/NordicTrack, among others.
Image courtesy Megabass
