The leading private equity firm L Catterton, has entered into a definitive agreement to sell hot sauce producer and distributor company Cholula, to McCormick & Company, Incorporated for approximately $800 million.
- Since acquiring Cholula in April 2019, L Catterton established Cholula as a standalone enterprise and transformed the organization, while driving a robust value creation plan that has positioned the company for continued growth.
- Cholula’s ambitious commercial strategy centered on investments designed to drive new restaurant partnerships, retail distribution, and in-store execution.
- Under L Catterton’s ownership, Cholula grew household penetration by over 50% and gained meaningful market share.
The major investments and deal by L Catterton are mentioned below:
Aug 2020: L Catterton announced a private placement of $150 million in Despegar.com to purchase preferred stock plus ordinary shares of the company. Despegar.com is a leading online travel agency in Latin America.
June2020: L Catterton has announced an investment of $285 million in Indias leading digital services platform Jio Platforms Limited a wholly-owned subsidiary of Reliance Industries.
March 2020: L Catterton has announced a strategic minority equity investment in the world’s largest optometrist-controlled eye care company FYidoctors.
Even after this partnership FYidoctors management and optometrist shareholders will continue to hold a significant equity interest in the business.
November 2019: L Catterton announced a strategic investment in
OdontoCompany, a leading and growth-oriented dental clinic franchisor in Brazil. The partnership with L Catterton will accelerate OdontoCompanys growth and expansion.
September 2019: L Catterton has announced the completion of acquisition of Del Friscos Restaurant Group, Inc. in approximately $650 million deal.
July 2019: L Catterton announced that it has entered into a definitive agreement to sell SteelSeries, the leading global gaming platform, to Axcel, a Nordic private equity firm.
April 2019: L Catterton, announced that it has completed the acquisition of Cholula, a leading producer and distributor of hot sauce. Terms of the transaction were not disclosed
About L Catterton
L Catterton, headquartered in Connecticut, United States, is one of the largest and most global consumer-focused private equity firm. The company has around 17 offices worldwide and it has made approximately 200 investments in leading consumer brands across all segments of the consumer industry.
L Catterton’s operating professionals and management team partners with clients around the world to implement strategic plans to foster growth, leveraging deep category insight, and operational excellence. L Catterton has long experience investing in consumer healthcare brands, including investments in CareDent, Pain Doctor, dentalcorp, Laboratorio da Mulher, FEMME, and PatientPoint. In addition to FEMME, other L Catterton Latin America investments include Bodytech (Colombia), Cholula, Espaçolaser, Grupo MYT, Grupo St. Marche, Luigi Bosca, Susana Balbo Wines, and Rapsodia