L Catterton’s consumer insights, industry relationships and value creation capabilities will support Good Culture as it expands production capacity, distribution and innovation
Good Culture, the clean-label cultured dairy brand popular for cottage cheese, has notified that L Catterton, a global consumer-focused investment firm, has entered into a definitive agreement to make a majority investment in the company.
The purchase price was more than USD 500 million, Reuters reported. Over the past three years, Good Culture sales have increased nearly four times, the company noted. L Catterton brings deep operational expertise and its consumer insights, industry relationships and value creation capabilities will support Good Culture as it expands production capacity, distribution and innovation while remaining true to its brand heritage.
Kirkland & Ellis advised investment firm L Catterton on its definitive agreement to make a majority investment in Good Culture. “The investment marks a pivotal milestone for Good Culture following years of rapid growth and positions the brand for accelerated expansion nationwide. Over the past three years, Good Culture sales have increased nearly four times, while helping reignite a cottage cheese category that grew nearly 60 per cent over the same period,” the statement from Kirkland & Ellis noted.
The majority investment will enable Good Culture to increase its production capacity and accelerate growth initiatives, ensuring the brand can meet increasing demand from retail partners and make its products more accessible to consumers across the country.
Separately, Mao Geping Cosmetics, through a filing on Hong Kong stock exchange, noted that the company has recently entered into a strategic cooperation framework agreement with L Catterton, pursuant to which both parties have reached strategic cooperation intention in respect of global market expansion, acquisitions and strategic investments, further capital structure optimisation as well as talent recruitment and governance.
“Pursuant to the framework agreement, L Catterton will leverage its global investment layout and strategic partner network to assist and empower the brands under the group to expand their overseas high-end retail channels; in addition, both parties intend to jointly establish an equity investment fund focusing on the global high-end beauty sector, so as to inject new impetus into the Group’s long-term development,” it said.
