Dive Brief:
Los Angeles-based private equity firm Butterfly acquired a majority stake in organic, free-range and pasture-raised egg producer Pete and Gerry’s. Financial terms of the deal were not disclosed.
Based in Monroe, New Hampshire, Pete and Gerry’s sells eggs under a variety of labels including Pete and Gerry’s Organic, Nellie’s Free Range and Consider Pastures. The certified B Corp partners with more than 130 farms throughout the U.S. that follow the brand’s strict animal treatment and environmental sustainability standards.
Specializing in the food sector, Butterfly uses what it describes as a “seed to fork” approach to investing in the food system. It puts funds in companies in four verticals: agriculture and aquaculture, food and beverage products, food distribution and food service.
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