L Catterton has made an investment in Cholula, a provider of hot sauce. No financial terms were disclosed.
GREENWICH, Conn., April 15, 2019 /PRNewswire/ — L Catterton, the largest and most global consumer-focused private equity firm, today announced that it has completed the previously-announced acquisition of Cholula, a leading producer and distributor of hot sauce. Terms of the transaction were not disclosed.
“We are pleased to have completed our acquisition of Cholula, an iconic brand within the attractive and growing hot sauce category,” said Matt Leeds, Principal in L Catterton’s flagship Buyout Fund. “We look forward to supporting Cholula’s continued expansion in the years to come, and we are excited to welcome such a beloved brand into the L Catterton family.”
Cholula’s delicious hot sauce is created from a generations-old recipe featuring carefully-selected arbol and piquin peppers and a secret blend of signature spices. Its unique recipe delivers a robust flavor with just the right amount of heat, with versatility far beyond the everyday condiment. Cholula’s distinctive wooden cap and artistic yellow label are testaments to the quality tradition of Mexican artisanship, and each bottle of Cholula is crafted with care in Jalisco, Mexico. Introduced into the U.S. in 1989, Cholula’s hot sauce now comes in six varieties and is enjoyed around the world.
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton’s team of more than 150 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.