Bolthouse Farms Finalizes the Acquisition of Evolution Fresh from Starbucks, Strengthening Leadership Position in the Juice and Refrigerated Beverage Categories
02 August 2022 - 3:02AM
Bolthouse Farms has closed its acquisition of Evolution Fresh from
Starbucks (NASDAQ: SBUX). The acquisition includes the brand,
business, and employees supporting Evolution Fresh. By uniting the
two powerhouse brands, Bolthouse Farms looks to further accelerate
the company’s leadership within the premium juice and refrigerated
beverage categories in retail.
Through this acquisition, Bolthouse Farms will expand its
beverage offering from nutrient-dense, plant-powered juices and
smoothies to include the full lineup of Evolution Fresh’s primarily
organic, cold-pressed, premium juices. Starbucks stores in the U.S.
will continue to sell Evolution Fresh products.
“We are thrilled to welcome our colleagues from Evolution Fresh
to the Bolthouse Farms family and look forward to working with them
to drive the juice and refrigerated beverage categories forward,”
said Bill Levisay, president, Consumer Brands, Bolthouse Farms. “As
a combined company, we will share our resources,
vertically-integrated supply chain, deep knowledge of fresh
produce, and passion for ingenuity and innovation. Evolution Fresh
produces deliciously fresh, cold-pressed juices that consumers are
looking for. Our job now is to support their expertise and bring
additional resources to the table to expand the brand’s reach.”
Bolthouse Farms is the No. 1 super premium refrigerated beverage
brand and one of the largest carrot suppliers to North American
retailers1. “Bolthouse has been on a rapid growth trajectory in the
last few years, and this acquisition is an important step on the
company’s growth journey, with more expected to come,” said Jeff
Dunn, CEO of Bolthouse Farms. “This acquisition expands our
portfolio in a way that meets the health and nutrition needs of
more consumers than ever before”.
Bolthouse Farms is a portfolio company of Butterfly, a leading
private equity firm that specializes in the food sector with a
particular focus on high-growth, on-trend categories. Through
Bolthouse Farms, Evolution Fresh joins Butterfly’s brand portfolio
that includes the likes of Chosen Foods, MaryRuth Organics, Orgain,
and Pete and Gerry’s Organics.
Terms of the transaction, which Starbucks and Bolthouse Farms
announced on May 24, 2022, were not disclosed.
About Bolthouse FarmsFor more than a century,
Bolthouse Farms has been known as the innovation
leader in growing and distributing carrots and high-quality,
nutrient-dense branded products. Employing more than 2,200 people
and headquartered in Bakersfield in California’s fertile San
Joaquin Valley, Bolthouse Farms is one of the largest carrot
growers and distributors in the U.S. and the No. 1 premium
refrigerated beverage brand in U.S. retail.* Guided by its purpose
— Ingenuity Grows Good — the company also produces and sells
super-premium juices, smoothies, café beverages, protein shakes,
functional beverages and premium refrigerated dressings, all under
the Bolthouse Farms® brand name. Visit Bolthouse Farms or follow us
on Instagram, Facebook and Twitter. *SOURCE: IRI MULO L52
weeks ending May 1, 2022
About ButterflyButterfly Equity ("Butterfly")
is a Los Angeles, California-based private equity firm specializing
in the food sector, spanning the entire food value chain from "seed
to fork" via four target verticals: agriculture & aquaculture,
food & beverage products, food distribution and foodservice.
Butterfly aims to generate attractive investment returns through
deep industry specialization, a unique approach to sourcing
transactions, and leveraging an operations-focused and
technology-driven approach to value creation. For additional
information about Butterfly, please visit its website at
www.bfly.com.
Bolthouse Farms Media ContactMarielle Gilbert,
Finn PartnersBHF@finnpartners.comPhone: 818-915-8484
1 SOURCE: IRI Total US MULO L52 weeks ending June 19, 2022
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ed897c71-86b1-4e85-ac86-19e5a133f168
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Apr 2024 to May 2024
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From May 2023 to May 2024