Jan 8 (Reuters) - Private equity firm L Catterton agreed to buy cottage cheese brand Good Culture on Thursday. The purchase price was more than $500 million, according to sources familiar with the matter.

Good Culture sales have increased nearly four times over the last three years as the cottage cheese category grew almost 60% over the same period, according to the deal announcement. 

"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," said Andrew Taub, a managing partner of L Catterton's Flagship Fund, in the announcement.

L Catterton is buying a majority stake in Good Culture, which also makes sour cream and cream cheese, and existing investor Manna Tree will reinvest in the business.

The new investor will help the Austin, Texas-based brand expand its production capacity, distribution, and innovation. The deal is subject to regulatory approval with a closing anticipated in the first quarter of 2026.

Backed by luxury-goods giant LVMH, L Catterton invests in consumer companies and has around $37 billion of assets under management including pilates chain Solidcore and supplements company Thorne.

(Reporting by Abigail Summerville in New York; Editing by Kirsten Donovan)

By Abigail Summerville