Report: Private Equity Group L Catterton Eyeing Ilegal Mezcal AcquisitionFebruary 24, 2023
Private equity firm L Catterton is reportedly in advanced talks to acquire leading mezcal brand Ilegal. Bloomberg reports that the deal would likely be worth less than $200 million and could still fall apart. Bacardi took a minority stake in Ilegal in 2017, but the brand has continued to operate independently, reaching 174,000 cases on 85% growth in the U.S. last year, according to Impact Databank, to lead the mezcal category.
“It’s quite exciting to see the broader market really embrace mezcal. A good indication of this are national chains which are now bringing in Ilegal, as well as our growth in the secondary markets like Georgia and New Jersey,” Ilegal founder John Rexer recently told SND.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Bacardi, Ilegal, L Catterton
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