Sitrick & Co. represents Los Angeles-based Butterfly private equity firm as it acquires Bolthouse Farms from Campbell Soup Co.
Founded in 1915, Bolthouse is the leading producer of fresh carrots and enjoys a strong presence in the refrigerated salad dressing category.
The Bakersfield company has access to more than 65K acres of premium growing land, employs 2,200 people and has operations in California, Illinois, Washington and Ontario.
For Butterfly, the deal is part of its “seed to fork” strategy of investing in agriculture/aquaculture production, distribution and foodservice.
Jeff Dunn, Butterfly operating partner, will become Bolthouse CEO, a job that he held from 2008 to 2012 when the company was acquired by Campbell Soup. He left in 2016.
Sitrick’s Anita-Marie Laurie and Terry Fahn represent Butterfly.