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Butterfly Invests in Chosen Meals, a Leader in Avocado-Based mostly Food Items

LOS ANGELES–(Enterprise WIRE)–Butterfly, a Los Angeles-dependent private equity firm specializing in the food items sector, today declared that it has attained an settlement to spouse with Picked out Meals LLC (“Chosen Foods”), an marketplace chief and pioneer of avocado oil and creator of avocado-dependent kitchen staples such as cooking sprays, mayonnaises, dressings, simmer sauces, guacamole, and salsa. Butterfly will individual a greater part stake in the organization. Phrases of the transaction were being not disclosed.

Butterfly has substantial knowledge in food stuff, throughout agriculture, aquaculture, foodstuff and beverage products, meals distribution, and foodservice and its management workforce has been associated in investing more than $10 billion of fairness funds in firms ranging from growth-phase to Fortune 500 enterprises. Selected Meals is Butterfly’s most current financial commitment within just its “seed to fork” strategy.

Headquartered in San Diego, Picked Foods is an avocado-centric manufacturer that delivers sustainably sourced, superior-high quality avocado products and solutions to households nationwide. Picked Foods’ flagship products is its refined avocado oil produced from ripened avocados. With a neutral flavor and higher smoke position, the multipurpose oil adds a bit of flavor to any dish, from significant warmth sauteing and flame grilling to dressing mixed greens and grains. In addition to avocado oil, Selected Foods features a vast selection of other superior-good quality, avocado-based mostly items that consumers can come to feel very good about acquiring. From dressings and marinades to mayonnaises, simmer sauces, guacamole, and salsa, Preferred Foodstuff offers a variety of approaches for people to delight in the beloved avocado fruit.

“We are thrilled to have partnered with the Butterfly group whose enthusiasm and vision for avocados genuinely matches our very own. In receiving to know them in excess of numerous months, it was clear their strategy, knowledge and values align squarely with our aspirations for Selected Food items. They share an affinity for the brand name we adore and our enthusiasm for avocado innovation.

“This partnership brings unparalleled possibility to grow globally and broaden our effects on consumers’ well being through scrumptious, nourishing avocado goods. We can’t wait to collaborate on our shared avocado obsession and the future chapter of Decided on Foods,” said Picked Foods CEO Gabriel Perez Krieb.

“After several yrs of tracking the avocado marketplace, we have ultimately identified the fantastic associate. Chosen Meals is a chief in not only avocado oil, but all avocado-based cooking and foodstuff products. The corporation is perfectly positioned and has good supply associates, who will be in a position to deliver a consistent source of higher-excellent avocado oil to meet up with the ever-escalating client need,” mentioned Butterfly Co-Founder Adam Waglay.

Butterfly Co-Founder Dustin Beck extra: “Chosen Food items is a exceptional, mission-pushed corporation that invites people to provide avocado items into their day by day life. They have constructed a supremely faithful and devoted subsequent through their determination to substantial-high quality and integrity of substances, and their manufacturer has definitely limitless probable to keep on rising as the leaders in the avocado area.”

Butterfly was suggested by Kirkland & Ellis LLP on authorized matters in connection with the transaction. Picked out Foodstuff was recommended by Lender of The us and Davis Polk & Wardwell LLP.

About Chosen Food items

Preferred Meals, an market leader and pioneer of avocado oil and creator of avocado-inspired cooking sprays, mayonnaises, dressings, simmer sauces, guacamole, and salsa, was launched in 2011 by Carsten Hagen, George Todd and Sioma Waisburd with a mission to carry superfoods into our life. From dressings and marinades to mayonnaises and oil sprays, the Southern California manufacturer focuses on generating wonderful-tasting and available products and solutions to elevate at-property cooking. All Picked Foodstuff goods are non-GMO licensed. Furthermore, Selected Food items builds collaborative partnerships with businesses that just take a local community-large, sustainable solution to relieve starvation. For further information about Selected Meals, be sure to stop by its web-site at www.chosenfoods.com.

About Butterfly

Butterfly Equity (“Butterfly”) is a Los Angeles, California-primarily based non-public equity organization specializing in the foods sector, spanning the full food price chain from “seed to fork” through 4 focus on verticals: agriculture & aquaculture, foods & beverage items, meals distribution and foodservice. Butterfly aims to deliver interesting expenditure returns by deep industry specialization, a special technique to sourcing transactions, and leveraging an functions-centered and technological know-how-driven approach to worth generation. For supplemental facts about Butterfly, be sure to visit its site at www.butterflyequity.com.