GREENWICH, CONN. — Private equity firm L Catterton has acquired better-for-you food brand Kodiak Cakes for an undisclosed amount. Existing shareholders including Sunrise Strategic Partners, Trilantic North America and the company’s founders and management team will continue to own a significant minority stake in the business.

Based in Park City, Utah, Kodiak Cakes offers an assortment of whole grain pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes and snacking products. The company is led by co-founder and chief executive officer Joel Clark and co-founder and president Cameron Smith. Products are sold in 26,000 doors nationwide.

“In identifying a partner for Kodiak's next phase of growth, it was important to find a team with the experience and capabilities to support our mission of providing an unbeatable array of great tasting and nutritious products for our consumers who are actively navigating today’s frontier,” Mr. Clark said. “L Catterton shares our vision, and their track record of helping grow iconic CPG brands makes the firm an ideal partner for Kodiak as we continue to propel our business forward.”

L Catterton has invested in a number of consumer products brands, including Cholula, The Honest Co., Kettle Chips, Zarbee’s, Home Chef, Ainsworth Pet Nutrition, Plum Organics, Wellness Pet Food, YoCrunch, Ferrara Candy Co. and Sweet Leaf Tea.

“We are thrilled at the opportunity to partner with Joel and his exceptional leadership team for the next chapter in Kodiak’s evolution,” said Matt Leeds, partner at L Catterton. “We look forward to supporting Kodiak’s continued success in the years to come, and we are honored to welcome such a beloved brand into the L Catterton family.”