Press Release

Kirkland Represents Butterfly and Lemonade Restaurant Group on Merger with Modern Market Eatery

Kirkland & Ellis advised Butterfly Equity a Los Angeles-based private equity firm specializing in the food sector, and Lemonade Restaurant Group (“Lemonade”), a Los Angeles-based restaurant company, on an agreement to merge Lemonade with Modern Market Eatery and form Modern Restaurant Concepts, the nation's leading better-for-you restaurant platform. As part of the transaction, global investment firm KKR will contribute its investment in Lemonade to the merger and become a shareholder in Modern Restaurant Concepts alongside Butterfly and the management team. Financial terms of the transaction were not disclosed.

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The Kirkland team was led by transactional partners Ravi Agarwal and Sean Rodgers and associates Michael Ruderman, Brent Nesbitt and Lara Cohen; investment funds partners David Sherman and Lina Zhou; and tax partners Benjamin Schreiner and Ryan Roberts.