Private equity firm completes acquisition of Kodiak Cakes

By Mary Ellen Shoup

- Last updated on GMT

Photo Credit: Kodiak Cakes
Photo Credit: Kodiak Cakes

Related tags Kodiak Cakes acquisition

Private equity group, L Catterton, has completed its acquisition of better-for-you, protein-powered waffle and pancake mix brand Kodiak Cakes.

Specific terms of the transaction, first announced in May 2021, were not disclosed. However, Kodiak's existing shareholders, including Sunrise Strategic Partners (which invested in the brand in 2016​), Trilantic North America, and the company's founders and management team, will continue to own a significant minority stake in the company going forward.

Known for its portfolio of whole-grain, protein-fueled pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes, and variety of snacking products sold in 26,000 doors nationwide, Kodiak Cakes gained mainstream fame for waking up the sleepy pancake and waffle mix category after appearing on Shark Tank in 2013. 

Kodiak has grown revenue from $15m in 2016 to $200m last year largely under the investment strategy of Sunrise Strategic Partners, which has led other successful brand exits from its investment fund including Vital Farms, which went public last year. 

With approximately $30bn in equity capital including investments in The Honest Company, Cholula hot sauce, Home Chef, Plum Organics, and Sweet Leaf Tea along with global presence, L Catterton will help lead Kodiak Cake's next growth chapter, said Andrew Taub, managing partner at the firm.

"Since its first wagonload of flapjack mix, Kodiak has brought an authenticity and commitment to simple, wholesome ingredients that has allowed it to become one of the most disruptive food platforms in America,"​ said Taub. 

Related news

Show more

Related products

show more

Learn more: Future Food-Tech Alternative Proteins

Learn more: Future Food-Tech Alternative Proteins

Content provided by Rethink Events Ltd | 19-Apr-2024 | White Paper

Future Food-Tech Alternative Proteins returns on June 17-18 in a new location for 2024 - the vibrant food and beverage hub, Chicago

Replacement Isn't the Future. Variety Is.

Replacement Isn't the Future. Variety Is.

Content provided by ADM | 22-Mar-2024 | White Paper

Successfully navigating the intersection of food and technology can help your business meet evolving consumer demands.

Related suppliers

Follow us


View more