Local Bounti Acquires Hollandia Produce (Pete's)
April 4, 2022
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.
- Buyers
- Local Bounti Corporation
- Targets
- Hollandia Produce Group, Inc. (operating as Pete's)
- Sellers
- Hollandia Produce Group, Inc., Overgaag family (founders/owners)
- Industry
- Food & Beverage
- Location
- California, United States
- Transaction Type
- Buyout
Explore More
Related Acquisitions
-
Lantmännen Unibake Acquires Boboli
September 12, 2025
Food & Beverage
Lantmännen Unibake has acquired Boboli, a Dutch savoury bakery specialist, to strengthen its presence in the bake-off and chilled savoury segment and add production capacity in the Netherlands. Boboli, headquartered in Bunschoten and employing around 200 people, has been supported by Gilde Equity Management for the past nine years.
-
Commercial Bakeries Corp. Acquires Hollandia Bakeries Ltd. and The Good Food Company Inc.
April 23, 2025
Food & Beverage
Commercial Bakeries Corp., a Graham Partners–backed private label cookie and cracker manufacturer, has acquired Hollandia Bakeries Ltd. and The Good Food Company Inc., adding a Mount Brydges, Ontario baking facility and additional cookie manufacturing and packaging capabilities. The transaction is an add-on to Commercial Bakeries’ platform, intended to expand manufacturing capacity and capabilities in the North American private-label cookie market.
-
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.
-
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.
-
Leo Holdings III Corp Takes Local Bounti Public in $1.1B SPAC Deal
June 18, 2021
Agriculture
Local Bounti Corporation entered into a definitive merger agreement with Leo Holdings III Corp (NYSE: LIII) to go public via a SPAC transaction valued at approximately $1.1 billion (pro forma equity value, assuming no redemptions). The deal includes up to $400 million in gross proceeds, featuring a $125 million fully committed PIPE anchored by Fidelity Management & Research Company and BNP Paribas Asset Management Ecosystem Restoration Fund, along with strategic investments from Cargill and Gulf Energy Development CEO Sarath Ratanavadi.
-
Butterfly Acquires Majority Stake in Pete and Gerry's Organics
May 4, 2021
Food & Beverage
Los Angeles-based private equity firm Butterfly has acquired a majority stake in Pete and Gerry's Organics, the leading U.S. producer of organic, free-range and pasture-raised eggs. British Columbia Investment Management Corporation (BCI) joins as a new minority investor and Pete and Gerry's CEO Jesse Laflamme will retain an ownership stake and continue to lead the company.
Build a buyer list for your deal
Find active buyers from recent acquisition patterns and move straight into outreach.