L Catterton Completes Sale of Cholula to McCormick
11/30/2020 - 04:10 PM
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 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
http://www.prnewswire.com/news-releases/l-catterton-completes-sale-of-cholula-to-mccormick-301181896.html
SOURCE L Catterton
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#3333 Ranked by Stock Gains
MKC Stock Data
Industry
All Other Miscellaneous Food Manufacturing
Sector
Manufacturing
Tags
Consumer Non-Durables, Food: Specialty/Candy, Manufacturing, All Other Miscellaneous Food Manufacturing
Country
US
City
Hunt Valley
About MKC
mccormick & company, incorporated (nyse: mkc) is a global leader in flavor and one of the most respected and familiar names in the industry. in business for more than 125 years, mccormick manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry—retail outlets, food manufacturers and food service businesses. the mccormick name represents a trusted source of flavor in millions of kitchens around the globe—in homes and in restaurants. partnerships with farmers and suppliers around the world allow us to provide great-tasting, quality spices with year-over-year consistency that you can trust. no exceptions. our herbs and spices come from 40 different countries, while our brands reach consumers in more than 135 countries and territories. our passion for quality is matched only by our commitment to an innovative and energetic company culture. at mccormick, we believe in respect, recognition, inclusion and collaborat
