Croc Bites
Piller's Black Kassel - Snack like Royalty with Black Kassel Salami Whips
Butterfly Acquires Bolthouse Farms for $510 Million

Butterfly Acquires Bolthouse Farms for $510 Million


LOS ANGELES, CA
Monday, April 15th, 2019

After months on the market, Bolthouse Farms—a vertically-integrated food and beverage company focused on developing, manufacturing, and marketing proprietary, high value-added natural, healthy products—has officially been acquired. Private equity firm Butterfly announced today that it has signed a definitive agreement to acquire the former Campbell Soup Company-owned fresh food supplier for $510 million in cash.

Dustin Beck, Co-Founder, Butterfly“We are proud to support Bolthouse Farms in further bolstering its strong positioning within fresh carrots and chilled premium beverages, and are excited to back a group of seasoned operators as passionate about produce as Jeff and his team to lead what is already a strong organization,” said Dustin Beck, Butterfly’s Co-Founder.

Adam Waglay, Co-Founder, ButterflyButterfly's other Co-Founder, Adam Waglay, added, “We are thrilled to partner with a vertically-integrated produce and fresh food leader with a history as rich as Bolthouse Farms, and we believe the company’s future is very bright especially given the continued rise of plant-based food in the diet of today’s consumer."

Private equity firm Butterfly announced today that it has signed a definitive agreement to acquire the former Campbell Soup Company-owned fresh food supplier for $510 million in cash
Bolthouse Farms operates over 65,000 acres of growing land; facilities in California, Illinois, Ontario, and Washington; nationwide fresh distribution capabilities; and a state-of-the-art carrot and beverage processing plant, according to a press release. The company employs approximately 2,200 workers.

As part of the transaction, Butterfly’s Operating Partner Jeff Dunn will assume the role of CEO of Bolthouse Farms. He previously served as Bolthouse Farms’ President and CEO from 2008 to 2016.

Jeff Dunn, CEO, Bolthouse Farms“Bolthouse Farms holds a special place in the produce industry and my team and I are deeply committed to strengthening and broadening Bolthouse Farms’ unique legacy,” said Dunn. “We can’t wait to get started.”

This transaction marks Butterfly’s fourth investment within its “seed to fork” approach. The closing of the transaction is subject to regulatory approvals and customary closing conditions and is expected to occur in summer 2019.

For more acquisitions, mergers, and sales hot off the press, keep reading Deli Market News.

Bolthouse FarmsButterfly
Topics:


Croc BitesPiller's Black Kassel - Snack like Royalty with Black Kassel Salami Whips

Have a new product, press release or story idea?

Let us know

In This Story


Carrots, smoothies, juices, and dressings to be reckoned with – Crafted by a Bunch of Carrot Farmers.

Five Tasty Ideas to Liven Up Your Burgers and Patties

Pereg Natural Foods offers up a whole host of ways to switch up the classic summertime fare: hamburgers.
View Press Release

NMPF Statement on Federal Trade-Mitigation Package for Farmers

The federation estimates that producers have lost at least 2.3B dollars in revenues through March due to higher tariffs against U.S. dairy.
View Press Release

WCMA Adds Communications Staff as Member Services Grow

Claudia Looze, as WCMA's new Communications Assistant, will support the association's expanding array of member benefits.
View Press Release