L Catterton to acquire Mexican hot sauce brand Cholula
L Catterton acquisition of Cholula : US private equity firm L Catterton has agreed to acquire Mexican hot sauce producer Cholula for an undisclosed price, as per the latest food acquisition news.
The name Cholula comes from a 2,500-year-old city in Mexico. Cholula was first introduced to the US in 1989 and has ever since became one of the popular hot sauce brands.
The hot sauce is characterized by its distinctive flavor profile and iconic packaging. Cholula boasts that its hot sauce is made with a unique blend of piquin and arbol peppers that complements a wide range of global cuisines. Cholula says that its secret recipe enables consumers to deliciously customize their food without the addition of any fat, calories, or carbohydrates.
Matt Leeds – Principal at L Catterton, commenting on L Catterton acquisition of Cholula, said: “It has been a privilege to pursue this unique opportunity on a proprietary basis. We are honored to be entrusted with the next chapter in Cholula’s evolution, and we are incredibly excited about the possibilities that lie ahead for the brand.”
L Catterton acquisition of Cholula will help the hot sauce brand become an independent enterprise, enabling it to continue delivering on its potential to become a powerful global brand.
With the continuous expansion of the hot sauce category and in addition to being a well-known brand among the Millennial and Hispanic consumers, Cholula is expected to be widely distributed around the world on retail shelves and in restaurants.
Commenting on L Catterton acquisition of Cholula, Scott Dahnke – Global Co-CEO of L Catterton, said: “Cholula represents a compelling opportunity to invest in a premium brand with an established reputation for quality and authenticity in the growing hot sauce category.
“We look forward to partnering with Cholula’s talented management team to capitalize on the brand’s immense whitespace opportunity in the years to come.”
L Catterton acquisition of Cholula will be based on meeting of customary approvals and closing conditions, including anti-trust approval.
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