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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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
