US cottage cheese brand Good Culture has sold a majority stake to PE firm L Catterton for a reported $500m (£373m) as consumer demand for the high-protein dairy product reaches new peaks.
The deal follows years of rapid growth for the Texas-based clean-label cultured dairy business and positions it to accelerate expansion across the US.
Over the past three years, sales at Good Culture have increased almost four-fold, hitting $200m in 2024.
The investment will back Good Culture, which also sells sour cream and cream cheese, to increase production capacity and meet growing demand from retail partners.
“Today marks a monumental moment for Good Culture as we embark on this next phase of growth with L Catterton,” said CEO Jesse Merrill, who co-founded the company with Anders Eisner.
“In 2014, I realised there was massive white space in a stale category that was lacking innovation. Our mission with Good Culture was to modernise cottage cheese with real, simple ingredients, and redefine it as a versatile and craveable high-protein food.”
Good Culture had previously raised more than $80m to help it scale, including a $64m round in 2022.
Existing investor Manna Tree has reinvested in the business alongside L Catterton.
Good Culture uses milk from cows on family farms to make its products without any artificial ingredients, gums, stabilisers or additives.
The business claims to have helped reignite interest in cottage cheese in the US, with the category growing by 60% over the past three years.
Cottage cheese is also growing in popularity in the UK as shoppers load up on protein, focus more on gut health and turn away from ultra-processed foods in favour of natural alternatives.
The category experienced a 29.4% jump in year-on-year volumes in the UK in the 52 weeks to 22 March 2025 [NIQ], with the trend being amplified by social media influencers.
This week, Arla announced its arrival in cottage cheese, while independent challenger All Things Butter expanded its dairy lineup with the launch of All Things Cottage Cheese in December, including category-first flavours such as mango and mixed berries.
Houlihan Lokey served as financial advisor to Good Culture, with Winston & Strawn acting as legal advisor. Citi and law firm Kirkland & Ellis worked with L Catterton, while Manna Tree was advised by Cooley.
The transaction remains subject to regulatory approval and is expected to close in the first quarter of 2026.
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