M&A Deal Summary

L Catterton Partners Acquires Kodiak Cakes

On May 25, 2021, growth capital firm L Catterton Partners acquired food company Kodiak Cakes from Sunrise Strategic Partners

Acquisition Highlights
  • This is L Catterton Partners’ 16th transaction in the Food sector.
  • This is L Catterton Partners’ 116th transaction in the United States.
  • This is L Catterton Partners’ 4th transaction in Utah.

M&A Deal Summary

Date 2021-05-25
Target Kodiak Cakes
Sector Food
Buyer(s) L Catterton Partners
Sellers(s) Sunrise Strategic Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Kodiak Cakes

Park City, Utah, United States
Kodiak Cakes is a producer of breakfast items including high-protein pancake/waffle mixes, flapjack/muffin cups, and syrups. Kodiak Cakes was founded in 1982 and is based in Park City, Utah.

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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 30.0B 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 188 of 221
Sector (Food) 16 of 19
Type (Secondary Buyout) 15 of 20
State (Utah) 4 of 5
Country (United States) 116 of 133
Year (2021) 9 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Dental

Toronto, Ontario, Canada

Dental is a provider of dental practices in Canada offering strategic and tactical resources to support the personal and professional growth ambitions of its dentists while allowing them to retain full clinical and operating autonomy. Dental was incorporated in 2011 and is based in Toronto, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Zenyum

Singapore, Singapore

Zenyum is an affordable dental cosmetics market in Asia is growing rapidly, fueled by aesthetic-conscious millennials. Zenyum provides 3D-printed invisible braces across seven markets in Asia, has a proprietary technology stack and a large dental partner network, enabling it to make better smiles accessible across the region through a safe and personalized process. Its products, which include clear aligners and electronic toothbrushes. Zenyum was founded in 2018 and is based in Singapore.

Buy -

Seller(S) 1

DESCRIPTION

Sunrise Strategic Partners provides growth capital and expertise to emerging brands in the healthy, active and sustainable living space sectors. The Firm looks for businesses that resonate with millennials, have a strong proof of concept and have reached approximately $20 to $50 million in revenue. The Sunrise team has experience in scaling brands and supports investments by adding strategic value and guidance. Sunrise Strategic Partners was established in 2016 and is based in Boulder, Colorado.


DEAL STATS #
Overall 2 of 4
Sector (Food) 1 of 3
Type (Secondary Buyout) 1 of 1
State (Utah) 1 of 1
Country (United States) 2 of 4
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-09 Vital Farms

Austin, Texas, United States

Vital Farms is a manufacturer and marketer of poultry products. Vital Farms products include Pasture-raised butter, Pasture-raised eggs in dozens, half-dozens and restaurant flats. Vital Farms was founded in 2007 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 Coolhaus

Culver City, California, United States

Coolhaus is an operator of ice cream company built on the idea of farchitecture (food + architecture), for creating unique, sweet-meets-savory flavors and novelties. Coolhaus was founded in 2009 and is based in Culver City, California.

Sell -