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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. ....
Pete and Gerry's Organics, a free-range egg business in the US, has sold a majority stake to a domestic private-equity investor. related to Meat, poultry & eggs, Organic, M&A and joint ventures, ....
Shareholdings change hands at Pete and Gerry s Organics Pete and Gerry s Organics, a free-range egg business in the US, has sold a majority stake to Los Angeles-based private-equity firm Butterfly. The pasture-raised egg company s CEO Jesse Laflamme will retain an ownership position and continue to help move the business forward , while British Columbia Investment Management Corp., described as an institutional investor in Canada, has become a minority shareholder in the business, according to a statement. Financial details and terms were not revealed. Pete and Gerry s is headquartered in Monroe, New Hampshire, and also has a second processing facility in Greencastle, Pennsylvania. The B Corp certified company partners with 130 family farms across the US to supply eggs under its namesake brand, as well as Nellie s Free Range and Consider Pastures to retailers, club stores and natural grocers. ....