Butterfly Acquires Majority Stake in Pete and Gerry's Organics

Pete & Gerry's Organics Acquires Pasture Brands from Benford Capital Partners

January 9, 2025

Food & Beverage

Pete & Gerry's Organics (the Butterfly Equity-backed egg platform) has acquired Pasture Brands Holdings — the holding company for Farmers Hen House and Pillars Yogurt — from Benford Capital Partners. The transaction (closed January 9, 2025) expands Pete & Gerry's branded specialty egg and dairy portfolio and continues consolidation in natural/conventional grocery and club channels.

Pete & Gerry's Organics Acquires Farmers Hen House

January 28, 2025

Food & Beverage

Pete & Gerry's Organics, LLC has acquired Kalona, Iowa-based Farmers Hen House, a supplier of Certified Humane organic, free-range and pasture-raised shell eggs. The acquisition adds over 90 partner family farms and a modern processing facility in Iowa, increasing Pete & Gerry's packing capacity and supporting growth across the Midwest and West; terms were not disclosed.

Butterfly Equity Acquires Majority Stake in Orgain

November 8, 2019

Food & Beverage

Butterfly Equity has signed a definitive agreement to acquire a majority stake in Orgain, a Los Angeles-area private equity firm said in a press release. Ontario Teachers' Pension Plan will join as a minority investor, and Orgain founder Dr. Andrew Abraham will retain a significant minority stake and remain CEO; the partnership is intended to scale the brand, accelerate product innovation and expand global distribution.

Butterfly Equity Invests in MaryRuth Organics

August 5, 2021

Food & Beverage

Los Angeles-based private equity firm Butterfly Equity has made a growth investment in MaryRuth Organics, a digitally native premium vitamins, minerals, and supplements brand headquartered in Los Angeles. Terms were not disclosed; founder and CEO MaryRuth Ghiyam will retain a significant ownership stake as Butterfly partners to help scale the business and expand retail and distribution channels.

Local Bounti Acquires Hollandia Produce (Pete's)

April 4, 2022

Food & Beverage

Local Bounti Corporation completed the acquisition of California-based Hollandia Produce Group, Inc., which operates under the Pete's brand, effective April 4, 2022. The transaction was funded with $122.5 million (approximately $92.5 million cash under a Cargill lending facility and $30.0 million in Local Bounti common stock) and adds Pete's ~130 employees and retail distribution footprint to Local Bounti's controlled-environment agriculture platform.

Butterfly Equity Acquires Majority Stake in Chosen Foods

September 7, 2021

Food & Beverage

Los Angeles-based private equity firm Butterfly Equity has agreed to acquire a majority stake in San Diego-based avocado-focused food brand Chosen Foods. The investment will support Chosen Foods' global growth and expansion of its avocado-based product portfolio; transaction terms were not disclosed.