Bolthouse Farms Completes Acquisition of Evolution Fresh from Starbucks, Strengthening Its Leadership Position in the Juice and Chilled Beverage Categories

Bolthouse Farms

Bolthouse Farms Aligns Two Powerful Juice Brands to Propel Evolution Fresh Forward and Accelerate Bolthouse’s Rapid Growth Trajectory

Bolthouse Farms

Bolthouse Farms is the #1 premium refrigerated beverage brand in the United States and one of the largest suppliers of carrots to North American retailers.

Bolthouse Farms is the #1 premium refrigerated beverage brand in the United States and one of the largest suppliers of carrots to North American retailers.

BAKERSFIELD, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) — Bolthouse Farms has completed its acquisition of Evolution Fresh from Starbucks (NASDAQ:SBUX). The acquisition includes the brand, company and employees supporting Evolution Fresh. By uniting the two flagship brands, Bolthouse Farms seeks to further accelerate the company’s leadership in the premium juice and chilled beverage categories in retail.

With this acquisition, Bolthouse Farms will expand its plant-based, nutrient-dense juice and smoothie beverage offering to include Evolution Fresh’s full line of premium, mostly organic, cold-pressed juices. Starbucks stores in the United States will continue to sell Evolution Fresh products.

“We are thrilled to welcome our colleagues at Evolution Fresh to the Bolthouse Farms family and look forward to working with them to advance the juice and chilled beverage categories,” said Bill Levisay, President, Consumer Brands, Bolthouse Farms. “As a combined company, we will share our resources, our vertically integrated supply chain, our deep knowledge of fresh produce and our passion for ingenuity and innovation. Evolution Fresh produces the deliciously fresh, cold-pressed juices consumers crave. Our job now is to support their expertise and bring additional resources to the table to expand the reach of the brand. »

Bolthouse Farms is the #1 premium refrigerated beverage brand and one of the largest carrot suppliers to North American retailers.1. “Bolthouse has been on a rapid growth trajectory over the past several years, and this acquisition is an important step in the company’s growth journey, with more expected,” 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 food-focused private equity firm with a particular focus on high-growth and trending categories. Through Bolthouse Farms, Evolution Fresh joins Butterfly’s portfolio of brands which includes Chosen Foods, MaryRuth Organics, Orgain and Pete and Gerry’s Organics.

Terms of the transaction, announced by Starbucks and Bolthouse Farms on May 24, 2022, were not disclosed.

About Bolthouse Farms
For more than a century, Bolthouse Farms is recognized as the innovation leader in growing and distributing high-quality, nutrient-dense branded carrots and produce. Employing more than 2,200 people and headquartered in Bakersfield, California’s fertile San Joaquin Valley, Bolthouse Farms is one of the largest carrot growers and marketers in the United States and the premium chilled beverage brand #1 retail line in the United States.* Driven by purpose — Ingenuity grows well — the company also produces and sells premium juices, smoothies, coffee drinks, protein shakes, functional drinks and chilled salad dressings, all under Bolthouse Farms® Mark. Visit Bolthouse Farms or follow us on instagram, Facebook and Twitter.
*SOURCE: IRI MULO L52 weeks ending May 1, 2022

About butterfly
Butterfly Equity (“Butterfly”) is a Los Angeles, California-based private equity firm specializing in the food industry, covering the entire food value chain from “seed to fork” through four vertical sectors: agriculture and aquaculture, food and beverages, food distribution and catering. Butterfly aims to generate attractive returns on investment through deep industry specialization, a unique approach to deal sourcing, and an operations-driven, technology-driven approach to value creation. For more information about Butterfly, please visit their website at www.bfly.com.

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1 SOURCE: IRI Total US MULO L52 weeks ending June 19, 2022

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