Home Consumer Goods L Catterton acquires Mexico’s Cholula hot sauce

L Catterton acquires Mexico’s Cholula hot sauce

L Catterton, a Greenwich-based private equity firm, is acquiring the hot sauce producer and distributor Cholula.

Catterton_cholulaManufactured in Chapala, a town in the Mexican state of Jalisco, Cholula is named after the 2,500-year-old city that is Mexico’s oldest inhabited municipality. The product line was introduced to the U.S. market in 1989 and became identifiable for its distinctive mix of piquin and arbol peppers and its colorful packaging capped with a round wooden top.

The financial terms of the acquisition were not disclosed. The transaction was a collaboration between L Catterton’s Flagship Buyout Fund and L Catterton Latin America.

“Cholula represents a compelling opportunity to invest in a premium brand with an established reputation for quality and authenticity in the growing hot sauce category,” said Scott Dahnke, global co-CEO of L Catterton. “We look forward to partnering with Cholula’s talented management team to capitalize on the brand’s immense whitespace opportunity in the years to come.”

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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