Orgain, Inc., an Irvine, CA-based producer of organic and clean nutrition products, received a majority investment from Butterfly, a Los Angeles-based private equity firm specializing in the food sector.
Ontario Teachers’ Pension Plan, a Limited Partner of Butterfly, will also be a new minority investor in the company.
The amount of the deal was not disclosed.
The partnership will enable Orgain to scale its brand and expand its reach, with an increased focus to be placed on expanding consumer awareness, product innovation and global distribution.
Founded in 2009 by physician and cancer survivor Dr. Andrew Abraham, M.D., Orgain makes organic and clean nutrition products for professional athletes, wellness enthusiasts, cancer patients, etc.
The company launched with an organic ready-to-drink nutrition shake in 2009 and since has developed a broad portfolio of products spanning across protein powders, shakes and bars for adults and kids with a focus on organic, protein-rich, clean ingredients.
Dr. Andrew Abraham will retain a significant minority ownership position in the business and will continue in the role of Chief Executive Officer going forward.