Butterfly Equity, a Beverly Hills private equity firm with a focus on food companies, acquired a Denver-based healthy food chain for an undisclosed amount, the company announced on Feb. 27.
Modern Market, which operates 28 healthy fast-casual restaurants in Colorado, Texas, Arizona and Maryland, has a menu that can accommodate a wide range of diets, according to the company’s website.
Adam Waglay, who co-founded Butterfly with Dustin Beck, said in a statement that the chain offered “a highly-scalable concept with an incredibly loyal following.”
“Modern Market’s innovative menu, emphasis on convenience and ability to meet any dietary need result in a concept with immense, broad appeal and significant room to grow,” Beck added. “We believe that Modern Market’s offering is increasingly representative of the way that modern restaurant-goers prefer to eat.”
Co-Chief Executives Anthony Pigliacampo and Rob McColgan founded Modern Market in 2009.
Butterfly Equity also acquired Pacifico Aquaculture in Mexico in January.
Retail, restaurants and hospitality reporter Caroline Anderson can be reached at firstname.lastname@example.org.
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