GREENWICH, CONN. — Private equity firm L Catterton on April 15 finalized its acquisition of Cholula, a producer and distributor of hot sauce. Financial terms of the transaction were not disclosed.
Launched in the United States in 1989, Cholula features a blend of piquin and arbol peppers that pairs well with a broad range of global cuisines. With the completion of the transaction, Cholula will become a standalone enterprise. The company manufactures six varieties of hot sauce in Jalisco, Mexico.
“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.”
Current and previous investments by L Catterton include Kettle Brands, Zarbee’s, Home Chef, Ainsworth Pet Nutrition, Plum Organics, Odwalla, Beanitos, Ferrara Candy Co., Sweet Leaf Tea and others.