Butterfly, a Los Angeles-based private equity firm specializing in the food sector, inked a deal to acquire a majority stake in Orgain, Inc. a leading producer of organic and clean nutrition products.
 
Based in Irvine, CA, Orgain was founded in 2009 by physician and cancer survivor Andrew Abraham, MD, to provide healthier and more convenient nutrition options to his patients. Today, it serves millions of individuals seeking to lead healthier, more vibrant lives including professional athletes, wellness enthusiasts, cancer patients and everyone in between.
 
The company launched with the industry’s first organic ready-to-drink nutrition shake in 2009 and since has developed a broad portfolio of category-leading products spanning across protein powders, shakes and bars with a focus on organic, protein-rich, clean ingredients. Orgain is unique in its success across product formats and within both plant-based and grass-fed dairy-based offerings.
 
Orgain is Butterfly’s fifth investment within its “seed to fork” approach to investing in food across agriculture, aquaculture, food and beverage products, food distribution and foodservice. Abraham will retain a significant minority ownership position in the business and will continue in the role of CEO going forward. Ontario Teachers’ Pension Plan, a Limited Partner of Butterfly, will also be a new minority investor in Orgain alongside Butterfly and Abraham.
 
“In spending time with the Butterfly team it was apparent that they shared our values and understood our mission to positively impact consumers across the world with our clean and delicious nutrition product, said Abraham. “We are excited about this next phase of growth for our brand, the ability to expand globally and the opportunity to inspire so many more healthy vibrant lives.”
 
The partnership will enable Orgain to scale its purpose-driven brand and expand its reach and positive impact. In particular, it will allow for an increased focus to be placed on expanding consumer awareness, product innovation and global distribution.
 
“Having been in close touch with Andrew for years, we continue to be impressed year after year by the loyal following and trajectory of the business he’s built,” said Butterfly Co-Founder Adam Waglay. “Orgain’s success is driven by the authenticity, purpose and passion that Andrew brings to everything he does.”
 
Butterfly Co-Founder Dustin Beck added: “Orgain has built an industry-leading platform of clean, nutritious products that have only scratched the surface of their potential. It has already had a massive impact in hospitals, locker rooms and homes across the world and we’re excited to help amplify its reach.”