Park City, UT—Private equity firm, L Catterton, announced that it has acquired Kodiak Cakes. Kodiak’s 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 Company going forward.
“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,” said Joel Clark, Co-Founder and CEO of Kodiak Cakes. “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.”
Founded in 1982, the company manufactures pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes, and other snacking products, and was featured on Shark Tank.
“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.”