L Catterton, a global consumer-focused private equity firm, acquired Kodiak Cakes, a Park City, UT-based food business built on a mission to inspire healthier eating and active living.
The terms of the transaction were not disclosed. Kodiak’s existing shareholders, including Sunrise Strategic Partners, Trilantic North America, and the founders and management team, will continue to own a significant minority stake in the company going forward.
Founded in 1982 by Chief Executive Officer Joel Clark and President Cameron Smith, Kodiak makes pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes, and a variety of snacking products. The company has also expanded its distribution partnerships and today works closely with a number of blue-chip retailers, including Target, Walmart, Costco, Publix, Safeway, and many more on a nationwide basis.
Kodiak is now sold in 26,000 stores nationwide.
FinSMEs
02/06/2021