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Butterfly Acquires Pacifico Aquaculture in Mexico

Butterfly Equity, a private equity firm specializing in the food sector, has acquired Pacifico Aquaculture in Mexico, the company announced Jan. 9. Terms of the deal were not disclosed.

This is the second acquisition for the Beverly Hills-based private equity firm, which was founded in 2016 by Adam Waglay and Dustin Beck.

“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,” Waglay said in a statement.

Pacifico is in Baja, California, Mexico and produces ocean-raised striped bass for customers including Whole Foods Market Inc.

According to its website, Butterfly targets investments in agriculture, aquaculture, food and beverage products, food distribution and foodservice.

In 2016, it invested in Culver City-based Lemonade Restaurant Group, a fast-casual restaurant chain.

Manufacturing and trade reporter Shwanika Narayan can be reached at snarayan@labusinessjournal.com or 323-556-8351. Follow her on Twitter @shwanika.

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