L Catterton sold Punch Bowl Social to Cracker Barrel.

Private equity firm L Catterton sold Punch Bowl Social, the leader in the "eatertainment" restaurant category, to Cracker Barrel, an American chain of combined restaurant and gift stores. Financial terms were not disclosed. "With its differentiated menu and accessible, entertaining, and engaging environment, Punch Bowl Social has established a loyal following among its core millennial and Gen Z customer base," said Jon Owsley, Co-Managing Partner of L Catterton's Growth Fund. "We are proud of the significant growth the Company has achieved, and we believe this transaction represents a terrific outcome for Punch Bowl Social, L Catterton, and Cracker Barrel as the Company enters this exciting next phase."