Good Culture announced L Catterton has entered into a definitive agreement to make a majority investment in the Austin, Texas-based clean-label cultured dairy brand, positioning the company for expanded production capacity, broader distribution, and faster product innovation as demand for high-protein, clean-label foods continues to climb. Financial terms were not disclosed.
The transaction is subject to regulatory approval, with closing expected in the first quarter of 2026, according to the companies.
Good Culture, founded in 2015 by Jesse Merrill and Anders Eisner, has built its business around cottage cheese and other cultured dairy products made without artificial ingredients, gums, stabilizers, or additives. The company said its sales have nearly quadrupled over the past three years, alongside renewed momentum in the cottage cheese category.
The deal brings in L Catterton, a global consumer-focused investment firm that said it manages about $39 billion of equity capital across private equity, credit and real estate. The firm said it plans to support Good Culture as it scales operations while maintaining its brand and product standards, including its status as a Certified B Corp.
Manna Tree, a global private equity firm focused on health and wellness, said it will reinvest alongside L Catterton. Manna Tree first invested in Good Culture in 2022 and said it has helped build the foundation for the brand’s recent growth. Other investors in Good Culture include SEMCAP and Anders Eisner.
Support: Houlihan Lokey served as financial advisor to Good Culture and Winston & Strawn served as legal advisor. Citi advised L Catterton, with Kirkland & Ellis serving as legal advisor. Manna Tree was advised by Cooley.
KEY QUOTES:
“Today marks a monumental moment for Good Culture as we embark on this next phase of growth with L Catterton. In 2014, I realized there was massive whitespace in a stale category that was lacking innovation. Our mission with Good Culture was to modernize cottage cheese with real, simple ingredients, and redefine it as a versatile and craveable high-protein food. Looking ahead, we’re excited to work alongside L Catterton, a proven and well-respected operator in the consumer space, to bring our products to even more consumers nationwide while staying true to our quality, team, and mission. We’re deeply grateful to Manna Tree for its unwavering support in helping us scale Good Culture into a leader in cultured dairy.”
Jesse Merrill, Co-Founder & CEO, Good Culture
“Good Culture has built an extraordinary niche in cultured dairy, transforming a once-dormant corner and making cottage cheese into one of the most exciting and versatile items in food. The brand’s authenticity, product quality, and strong consumer resonance create a compelling opportunity to scale the business further, while preserving what makes Good Culture distinctive.”
Andrew Taub, Managing Partner, L Catterton Flagship Fund
“This partnership formalizes a relationship we’ve built with Jesse and his investors over the past several years, and is underpinned by our deep conviction in the durability of the tailwinds driving growth in the category. We see significant runway ahead for Good Culture and are excited to support the team as they expand the brand’s reach.”
Michael Hutchings, Managing Director, L Catterton
“We’re exceptionally proud of the work we’ve accomplished with Jesse and the Good Culture team in four years of rapid growth. As the health and wellness sector continues to grow with heightened interest in protein and clean-label products, Good Culture has emerged as a clear leader in the consumer movement towards better-for-you brands. We’re excited to see what Good Culture and L Catterton will achieve together to unlock further growth and bring Good Culture products to more consumers.”
Gabrielle (Ellie) Rubenstein, Co-Founder & Managing Partner, Manna Tree
