M&A Deal Summary

L Catterton Partners Acquires Cholula Hot Sauce

On December 12, 2018, growth capital firm L Catterton Partners acquired food company Cholula Hot Sauce

Acquisition Highlights
  • This is L Catterton Partners’ 13th transaction in the Food sector.
  • This is L Catterton Partners’ 1st transaction in Mexico.
Investment Fate
  • Cholula Hot Sauce was sold to a publicly-traded strategic buyer in 2020 for 800M USD.

M&A Deal Summary

Date 2018-12-12
Target Cholula Hot Sauce
Sector Food
Buyer(s) L Catterton Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) VACE Partners (Financial)
Cravath, Swaine & Moore (Legal)

Target

Cholula Hot Sauce

Jalisco, Mexico
Cholula Hot Sauce is a producer and distributor of hot sauce. Cholula's hot sauce is created from a generations-old recipe featuring carefully-selected arbol and piquin peppers and a secret blend of signature spices. Cholula Hot Sauce is manufactured with care in Jalisco, Mexico.

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Buyer(S) 1

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 37.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 148 of 223
Sector: Food M&A 13 of 19
Type: Buyout (LBO, MBO, MBI) M&A Deals 39 of 48
Country: Mexico M&A 1 of 4
Year: 2018 M&A 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Cazoo

London, United Kingdom

Cazoo is a provider and owns and fully reconditions all its cars before offering them for sale and delivering them free to customer’s doors in a convenient two-hour delivery slot. Every Cazoo car comes with a 7-day money-back guarantee, free comprehensive 90-day warranty, and roadside assistance. Buyers can purchase or finance one of the thousands of Cazoo cars entirely online as well as get an instant offer for any part exchange. Cazoo was founded in 2018 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-18 Bodegas Luigi Bosca

Buenos Aires, Argentina

Bodegas Luigi Bosca is a producer of wines in Argentina. Bodegas Luigi Bosca was founded in 1901 and is based in Buenos Aires, Argentina.

Buy -