L Catterton Completes Sale of Cholula to McCormick

News provided by

L Catterton

30 Nov, 2020, 16:10 ET

GREENWICH, Conn., Nov. 30, 2020 /PRNewswire/ -- L Catterton, the largest and most global consumer-focused private equity firm in the world, today announced that it has completed the previously-announced sale of Cholula, a leading producer and distributor of hot sauce, to McCormick & Company, Incorporated (NYSE: MKC) for $800 million.

"We are pleased to conclude our successful partnership with Cholula," said Matt Leeds, Partner at L Catterton. "It was a privilege to invest behind this iconic brand, and we are confident that Cholula will continue to grow and thrive under McCormick's ownership."

Morgan Stanley & Co. LLC acted as lead financial advisor to Cholula; Houlihan Lokey, Inc. acted as financial advisor to Cholula; and Kirkland & Ellis LLP acted as legal advisor to L Catterton and Cholula.

About Cholula

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 approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton's team of nearly 200 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 partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

Contacts

Andi Rose / Julie Oakes
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE L Catterton

Also from this source

L Catterton Announces Strategic Partnership with Hunter Point Capital to Accelerate the Growth of its New Fund Platforms

L Catterton partners with A.P.C. to pursue global expansion, building on the brand's distinctive DNA

Explore

More news releases in similar topics

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.