Butterfly Announces Agreement to Sell Majority Stake in Orgain to Nestlé Health Science

LOS ANGELES–(BUSINESS WIRE)–Feb 2, 2022–

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Butterfly, a Los Angeles-based personal fairness agency specializing within the meals sector, at the moment introduced that Nestlé Well being Science has agreed to amass a majority stake in its portfolio firm Orgain, the U.S.’ main plant-based useful diet platform. Butterfly and Dr. Andrew Abraham, Orgain’s Founder and CEO, will retain vital minority possession positions within the firm. Dr. Abraham will proceed to guide the corporate as CEO. Phrases of the deal weren’t disclosed.

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Butterfly, a Los Angeles-based personal fairness agency specializing within the meals sector, introduced that Nestlé Well being Science has agreed to amass a majority stake in its portfolio firm Orgain, the U.S.’ main plant-based useful diet platform. (Photograph: Orgain)

Orgain was based in 2009 in California by Dr. Abraham, an integrative drugs specialist and most cancers survivor. He developed the corporate’s protein-based shakes, powders and snacks based mostly on his perception that everybody deserves entry to good, clear diet. In the present day, Orgain’s portfolio of merchandise contains the nation’s best-selling plant-based and natural protein powder, protein shake and dietary shake, amongst many different merchandise.

Butterfly, alongside traders Ontario Academics’ Pension Plan Board (Ontario Academics’) and DCP Capital, acquired a majority stake in Orgain in November 2019. Ontario Academics’ and DCP Capital may even keep minority possession positions within the firm.

“Orgain was a mission earlier than it turned an organization,” mentioned Orgain Founder and CEO Dr. Abraham. “In the present day, in partnering with Nestlé Well being Science, we take an enormous leap ahead in pursuing that mission of offering accessible, wholesome diet for all. Nestlé Well being Science shares that mission and can assist us to get higher, cleaner diet merchandise into the palms of extra shoppers than I ever imagined potential once I based this firm twelve years in the past.”

“We couldn’t be prouder of what the Orgain staff has achieved over the past two years – it’s been an absolute privilege to work alongside them,” mentioned Butterfly Co-Founder Adam Waglay. “We’re assured that Orgain continues to be within the early innings of reaching its final potential and are thrilled that now we have the chance to proceed to be part of that journey along with Nestlé Well being Science.”

Butterfly Co-Founder Dustin Beck added: “It’s been inspiring to look at Andrew assist pioneer the clear diet motion. He’s a visionary within the house and his drive and fervour, together with that of the whole Orgain group, have created a really exceptional enterprise. We’re excited to see what they may be capable to accomplish on this subsequent chapter of the clear diet motion alongside the proper accomplice.”

Kirkland & Ellis LLP and Giannuzzi Lewendon LLP acted as authorized advisors to Orgain. BofA Securities, Goldman Sachs & Co. LLC and Mally Collective acted as monetary advisors to Orgain.

About Butterfly

Butterfly Fairness (“Butterfly”) is a Los Angeles, California-based personal fairness agency specializing within the meals sector, spanning the whole meals worth chain from “seed to fork” by way of 4 goal verticals: agriculture & aquaculture, meals & beverage merchandise, meals distribution and foodservice. Butterfly goals to generate engaging funding returns by means of deep business specialization, a singular strategy to sourcing transactions, and leveraging an operations-focused and technology-driven strategy to worth creation. For extra details about Butterfly, please go to its web site at www.butterflyequity.com.

About Orgain

Orgain was created by Dr. Andrew Abraham, who used natural diet to save lots of his personal life throughout a battle with most cancers at a younger age, and now it’s made to serve the varied wants of hundreds of thousands extra. Orgain’s major objective is to make scrumptious clear and natural dietary merchandise to assist individuals lead wholesome, vibrant lives. Its merchandise embrace meal alternative shakes, protein powders and snack bars for adults and children. Orgain makes use of solely the best high quality components, by no means at the price of style and texture. Most Orgain merchandise are Licensed Natural and all are soy free, gluten free, non-GMO and freed from synthetic colours, flavors and preservatives. To be taught extra about Orgain, and Dr. Abraham’s fascinating story and objective, or to buy merchandise and browse recipes, go to www.orgain.com.

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CONTACT: For Butterfly

Stuart Pfeifer or Terry Fahn

Sitrick And Firm

(310) 788-2850

spfeifer@sitrick.com

terry—fahn@sitrick.comFor Orgain

Erica Samadani

Mullen Lowe

(310) 210-4071

erica.samadani@mullenlowe.comFor Nestle

Jacquelyn Campo