M&A Deal Summary

Butterfly Equity and BCI Acquire Pete and Gerry s Organics

On May 4, 2021, private equity firm Butterfly Equity and asset manager BCI acquired agriculture company Pete and Gerry s Organics

Acquisition Highlights
  • This is Butterfly Equity’s 2nd and BCI’s 1st transaction in the Agriculture sector.
  • This is Butterfly Equity’s 4th and BCI’s 6th transaction in the United States.
  • This is Butterfly Equity’s 1st and BCI’s 1st transaction in New Hampshire.

M&A Deal Summary

Date 2021-05-04
Target Pete and Gerry s Organics
Sector Agriculture
Buyer(s) Butterfly Equity
BCI
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Goodwin Procter (Legal)

Target

Pete and Gerry s Organics

Monroe, New Hampshire, United States
Pete and Gerry's Organics has been raising chickens for three generations and is totally committed to bringing consumers the highest-quality organic, free-range, and pasture-raised eggs possible via its quality brands, including Pete and Gerry’s Organic, Nellie’s Free Range, and Consider Pastures. Pete and Gerry's Organics is a values-led company dedicated to the humane treatment of animals and supporting small family farms that follow the strictest standards of humane animal treatment, safety, and environmental sustainability. Pete and Gerry's Organics was formed in 1950 and is based in Monroe, New Hampshire.

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Buyer(S) 2

Buyer

Butterfly Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2016
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Butterfly Equity is a private equity firm focused on the food sector. The Firm will consider opportunities spanning the entire food chain include agriculture, aquaculture, food, beverages, food distribution, and food service. Butterfly Equity was formed in 2016 and is headquartered in Beverly Hills, California.


DEAL STATS #
Overall 5 of 11
Sector: Agriculture M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 4
State: New Hampshire M&A 1 of 1
Country: United States M&A 4 of 10
Year: 2021 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-08 Orgain

Irvine, California, United States

Orgain is a producer of high-quality, great-tasting, organic and clean nutrition products. The company's products include meal replacement shakes, protein powders and snack bars for adults and kids. It uses only the highest quality ingredients, never at the cost of taste and texture. Orgain was founded in 2008 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 MaryRuth Organics

Los Angeles, California, United States

MaryRuth Organics is a provider of vitamins, minerals, and supplements brand offers organic, and vegan nutritional supplements to benefit the entire family, from infants to adults. MaryRuth Organics is based in Los Angeles, California.

Buy -
Buyer

BCI

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 21.1B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 18 of 32
Sector: Agriculture M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 5
State: New Hampshire M&A 1 of 1
Country: United States M&A 6 of 15
Year: 2021 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-30 Compre

Hamilton, Bermuda

Compre is a global consolidator of closed books of non-life insurance policies. Compre is focused on the acquisition and management of discontinued (also known as ‘run-off’) non-life insurance portfolios and has operations in the UK, Bermuda, Finland, Germany, Malta, and Switzerland. Compre was founded in 1991 and is based in Hamilton, Bermuda.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 Culligan

Rosemont, Illinois, United States

Culligan offers water softeners, filtration systems, industrial water treatment solutions, and drinking water systems. Culligan was founded in 1936 and is based in Rosemont, Illinois.

Buy -