Butterfly Equity

Today, The Duckhorn Portfolio announced the appointment of two new members to its Board of Directors:?David Klein and Tom Flocco. Both bring over 30 years of experience in scaling and operating category-defining alcoholic beverage businesses. We’ve had the pleasure of partnering with David over the past year and have worked closely with Tom for several years through our investment in Pete & Gerry’s Organics. We are excited to have the two of them join the board as we continue to support Duckhorn in executing its vision for long-term growth and leadership in the luxury wine category. Read the full press release here: https://lnkd.in/geKkiGsc

Last week, our Co-Founder and Co-CEO Adam Waglay and incoming CEO of The Duckhorn Portfolio Robert Hanson joined Bloomberg Television’s Romaine Bostick, CFA and Scarlet Fu to discuss Robert’s appointment and the state of the premium wine industry. Robert has been a friend of the firm’s for nearly a decade and has advised Butterfly on its broader work in the beverage and alcohol space as an Operating Partner over the last year. At Butterfly, we believe in investing in the highest quality assets and Duckhorn has significantly outperformed the premium wine category since its inception. We look forward to working with Robert to unlock new opportunities for growth and build on its strong foundation to deliver premium wine to consumers globally. https://lnkd.in/gZm4EPWX

We are thrilled to announce that Robert Hanson, a renowned consumer brands industry veteran, has been appointed CEO of The Duckhorn Portfolio, effective February 1, 2025. Robert comes to Duckhorn with a strong track record of building, transforming, and scaling consumer businesses. With his deep sector expertise and visionary leadership, we are confident he will take Duckhorn to new heights, building on its legacy of excellence in the wine industry. You can read the full details in our press release for more information: https://lnkd.in/gS4c5qED

We are thrilled to announce that we have completed our acquisition of The Duckhorn Portfolio. Today, we raise a glass and formally welcome the Company to Butterfly. We are confident The Duckhorn Portfolio is ideally positioned to continue the incredible growth it has achieved as the premier luxury wine company in North America. For more than 50 years, the Company has delighted customers with its curated portfolio of beloved winery brands, and we are looking forward to leveraging Butterfly’s deep sector experience and network to expand their global reach and continue a legacy of winemaking excellence. You can read the full details in our press release:?https://lnkd.in/g2ywan7U

We’re thrilled to share that Butterfly has been named to Inc. Magazine’s 2024 Founder Friendly Investors list. This annual list honors the most dedicated private equity, venture capital, and debt firms with a strong track record of backing entrepreneurs. At Butterfly, we equip every portfolio company with a dedicated value creation team to accelerate growth, enhance operations and drive efficiencies. We are honored to be recognized for our commitment to backing founders and congratulations to our incredible team for this well-deserved accolade. See the full list here: https://lnkd.in/ebhzF2Xq

We are excited to announce that we have entered into an agreement to acquire The Duckhorn Portfolio in a transaction that values Duckhorn at approximately?$1.95 billion. We are honored to partner with Duckhorn and can’t wait to welcome the Company to the Butterfly family. For nearly fifty years, Duckhorn has built a unique offering of acclaimed wines across the premium and luxury categories, earning the title of North America’s premier luxury wine company. We look forward to bringing our specialized expertise and deep food and beverage network to bear to help amplify and accelerate Duckhorn’s mission to have their wine poured wherever fine wines are served throughout North America and the world. You can read the full details in our press release for more information and cautionary statements:?https://lnkd.in/gzJVe_RP

We’re headed to Singapore! This week, Butterfly Equity Chief Financial Officer Peter Tang will be on-the-ground at the 2024 Milken Institute Asia Summit where he will be speaking on the panel Food and Finance Leaders: Investing in Sustainable Food Systems. The session will take place on Wednesday, September 18th and focus on why investing in a sustainable and resilient food supply chain is crucial for both the population and our planet.?#MIGlobal To learn more, visit: https://lnkd.in/g7yp8CBD

We are thrilled to announce our acquisition of Rise Baking Company alongside Platinum Equity. This partnership marks an exciting step forward as Rise accelerates into its next chapter of growth. We look forward to partnering with Rise Chief Executive Officer Brian Zellmer and the entire Rise team, as we leverage our specialized expertise in the food sector to help the company Rise above its customers’ expectations one bite at a time! To learn more, read the full press release here: https://lnkd.in/gC4_4nKu

Butterfly Co-Founder and Co-CEO Adam Waglay was featured in the latest brief by Milken Institute Feeding Change stemming from his insights at the Milken Institute 2024 Global Conference. He notes that “one of the things in food is: You have to match the investment with the right type of capital, the right type of timeline, the right type of leverage.”? ? To learn more about the importance of investing in food systems, read the full brief here: https://lnkd.in/dG2aq3zh

Butterfly is pleased to announce the successful exit of a majority of our stake in portfolio company MaryRuth's. This milestone allows us to deliver significant value while continuing to support the fastest-growing, market-leading vitamins, minerals and supplements?brand. Our deepest gratitude goes out to MaryRuth Ghiyam, Founder and CEO of MaryRuth's, for her exceptional leadership, vision and collaboration. Butterfly will continue to be an active investor in the business and retain representation on the board. King Street Capital Management provided financing to the Company and will join the board. Read the full press release here:?https://bwnews.pr/3SQgIDi