Pete and Gerry's Organics, a free-range egg business in the US, has sold a majority stake to a domestic private-equity investor. related to Meat, poultry & eggs, Organic, M&A and joint ventures,
Pete and Gerry’s Organics’ decision announced yesterday to sell a majority stake of the family-owned free-range and pasture-raised egg business to the private equity firm Butterfly may be “unsettling” to some, acknowledges the CEO, but he says it will allow the company to accelerate its steady growth of the past decade by seizing rising demand for more ethically and sustainably produced eggs.
Shareholdings change hands at Pete and Gerry s Organics
Pete and Gerry s Organics, a free-range egg business in the US, has sold a majority stake to Los Angeles-based private-equity firm Butterfly.
The pasture-raised egg company s CEO Jesse Laflamme will retain an ownership position and continue to help move the business forward , while British Columbia Investment Management Corp., described as an institutional investor in Canada, has become a minority shareholder in the business, according to a statement.
Financial details and terms were not revealed.
Pete and Gerry s is headquartered in Monroe, New Hampshire, and also has a second processing facility in Greencastle, Pennsylvania. The B Corp certified company partners with 130 family farms across the US to supply eggs under its namesake brand, as well as Nellie s Free Range and Consider Pastures to retailers, club stores and natural grocers.
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