GREENWICH, CONN. — Private equity firm L Catterton has completed its acquisition of better-for-you food brand Kodiak Cakes. Financial terms of the transaction, which was first announced on May 25, were not disclosed.
“We are pleased to have completed our acquisition of Kodiak, a powerful brand within the attractive better-for-you breakfast and snacking categories,” said Matt Leeds, partner at L Catterton. “We are excited to welcome Kodiak into the L Catterton family, and we look forward to supporting the company’s continued growth and success.”
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.
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. MBN