Kirkland & Ellis advised Butterfly, a Los Angeles-based private equity firm specializing in the food sector, and its portfolio company Orgain, the U.S.’ leading plant-based functional nutrition platform, on the sale of a majority stake in Orgain to Nestlé Health Science. Butterfly, alongside investors Ontario Teachers’ Pension Plan Board and DCP Capital, acquired a majority stake in Orgain in November 2019. Ontario Teachers’ and DCP Capital will also maintain minority ownership positions in the company. Terms of the deal were not disclosed.
The Kirkland team was led by corporate partners Ravi Agarwal and Christopher Burwell and associates Sumer Marquette and Chrissy Pak, tax partners Benjamin Schreiner and Damien Rose, and investment funds partners David Sherman and Samuel Weber, with support from corporate partner Sean Rodgers.