Simpson Thacher represented Butterfly Equity (“Butterfly”) in connection with its establishment of a flavor investment platform with Graham Partners (“Graham”). The investment platform backs Custom Flavors, a developer and manufacturer of premium liquid and powdered flavor solutions, and Target Flavors, a specialty flavor house serving the beverage, dairy and pharmaceutical industries. Financial terms of the transaction were not disclosed.
Butterfly is a private equity firm specializing exclusively in the $28 trillion food sector.
The Simpson Thacher team included Marni Lerner, Keegan Lopez, Mark Myott, Shaneel Parikh, Sarika Pandrangi, Jordan Czelen, Joshua Brachfeld, Simone Hernandez and Christopher Pettit (M&A); Christopher Brown, Young Bin (Peter) Bang, Janhvi Barthwal and Isabelle Yuan (Credit); Sophie Staples, Andrew Wasilick, Roberto Arza and Spencer Landis (Tax); Jeannine McSweeney, Joshua Stephens and Hazel Yang (Executive Compensation & Employee Benefits); Caroline Geiger, Kate Mirino and Chandler Gerard-Reimer (Intellectual Property & Data Privacy); Krista McManus (Real Estate); Karen Kazmerzak, Daniel Owsley and Sophia Dillon-Davidson (Antitrust & Trade Regulation); and Steven DeLott (Insurance).