Los Angeles—Butterfly, a LA-based private equity firm specializing in the food sector, has signed a definitive agreement to acquire a majority stake in Orgain, Inc., according to a press release.
Orgain is a producer of organic and clean nutrition products. It sells ready-to-drink nutrition shakes, protein powders, and bars. It offers both plant-based and grass-fed dairy-based offerings.
Orgain is Butterfly’s fifth investment within its “seed to fork” approach to investing in food across agriculture, aquaculture, food and beverage products, food distribution, and foodservice. Orgain Founder Andrew Abraham, M.D., will retain a significant minority ownership position and will continue in the role of CEO. Ontario Teachers’ Pension Plan, a Limited Partner of Butterfly, will also be a new minority investor in Orgain.
Related: Celsius Holdings Completes Acquisition of Func Food Group Oyj
Orgain Becomes Core Sponsor of Whole Kids Foundation’s Growing Healthy Kids Campaign
Hain Completes Sale of Arrowhead Mills and SunSpire
The partnership will enable Orgain to scale its purpose-driven brand and expand its reach and impact. It will allow for an increased focus on expanding consumer awareness, product innovation, and global distribution.
Abraham said in the release: “In spending time with the Butterfly team it was apparent that they shared our values and understood our mission to positively impact consumers across the world with our clean and delicious nutrition product. We are excited about this next phase of growth for our brand, the ability to expand globally, and the opportunity to inspire so many more healthy vibrant lives.”
Butterfly Co-Founder Dustin Beck added: “Orgain has built an industry-leading platform of clean, nutrition products that have only scratched the surface of their potential. It has already had a massive impact in hospitals, locker rooms and homes across the world and we’re excited to help amplify its reach.”