Butterfly, a Los Angeles-based private equity firm specialising in the food sector, is to partner with Chosen Foods (Chosen Foods), an industry leader and pioneer of avocado oil and creator of avocado-based kitchen staples including cooking sprays, mayonnaises, dressings, simmer sauces, guacamole, and salsa.  Butterfly will own a majority stake in the business. The terms of the transaction were not disclosed.

Butterfly has significant experience in food, across agriculture, aquaculture, food and beverage products, food distribution, and foodservice and its leadership team has been involved in investing more than USD10 billion of equity capital in companies ranging from growth-stage to Fortune 500 enterprises. Chosen Foods is Butterfly’s latest investment within its “seed to fork” strategy.

“This partnership brings unprecedented opportunity to grow globally and expand our impact on consumers’ health through delicious, nourishing avocado products. We can’t wait to collaborate on our shared avocado obsession and the next chapter of Chosen Foods,” says Chosen Foods CEO Gabriel Perez Krieb.

Read more/Source: Private Equity Wire