Butterfly, a Los Angeles-based private equity firm specializing in the food sector, acquired Pacifico Aquaculture, a provider of sustainable ocean-raised aquaculture.
Founded in 2010 and based in Baja California, Mexico, Pacifico is said to be the world's first and only producer of ocean-raised striped bass available through distributors, food retailers and restaurants across North America.
"This is an exciting new chapter for Pacifico, and we look forward to our partnership with the Butterfly team," says Omar Alfi and Daniel Farag, co-CEOs of Pacifico. "Butterfly understands our business well and shares our vision for the future, and we are excited to have a partner with deep industry expertise in the food sector."
"The future for sustainable ocean-raised aquaculture is extraordinarily bright, and we are excited to back the Pacifico team to help expand their reach throughout North America and around the world," says Adam Waglay, co-founder of Butterfly. "We love that Pacifico is committed to sustainable and responsible aquaculture practices, and has received numerous sustainability certifications and awards, including the highest 4-star designation from the Global Aquaculture Alliance's Best Aquaculture Practices (BAP) certification program earlier this year."
"Pacifico's unwavering commitment to innovation, quality and sustainability has created a unique offering that is positioned extremely well for growth,” adds Dustin Beck, co-founder of Butterfly. “We are thrilled to partner with Omar, Daniel and the rest of the team to help them grow Pacifico into a world-class aquaculture platform."