Los Angeles–based Butterfly Equity, widely recognized for its focused investment strategy in the food sector, has built a substantial investment track record across the entire value chain, from production and processing to branded consumer goods and restaurant platforms. The acquisition underscores the firm’s continued emphasis on operational transformation and its disciplined, data-driven approach to driving scalable growth.
Since 2016, Los Angeles–based Butterfly Equity, led by Dustin Beck and Adam Waglay, has built a substantial asset base and established ownership in several well-known companies, including Chosen Foods, Bolthouse Farms, and QDOBA. This ownership platform has enabled the firm to build high-quality, category-leading businesses with the scale and operational strength to compete globally.
Butterfly Equity acquired ePac Holdings from its alliance investors, Indevco North America and Amcor. ePac has been a leader in flexible packaging solutions, undoubtedly attracting Butterfly Equity to turn ePac's development into a colorful fresh start to further drive innovation in the vast packaging sector.
CEO of ePac, Virag Patel, said, “For many years, our company has introduced new worlds or eras to the packaging model by handing over the modern technology to the perfect innovative brands. With this partnership with Butterfly, we have stepped into a new journey of elevation. This deal enables us to continue participate into the industry trend area while accelerating Butterfly’s engagement across the food and beverage area.”
“The companies will continue to assess and install the future platforms and technologies, such as ePacONE, to serve brand growth and peak value for our customers without any partiality to scale or size.”
Managing director, Butterfly, Eric Tommarello, said, “We are very impressed and satisfied with the ePac’s specialization and potential to win the market. The company’s promising visionary management team has built a powerful track record of implementation. We trust the merger of smooth technology, sharp focus, and quick service to the customer’s experience has created a magical uplifting base for consistent growth in the digitized printing packaging group.”
This acquisition deal paves the way for innovation, strategy, and advancement in the packaging line. ePac has a strong pipeline, which needs an innovative and technical mind to further survive in the competitive global packaging market. The transactions are not yet revealed, as Butterfly is taking advice from Kirkland & Ellis LLP on the legal documentation and procedures regarding the transaction.
Alongside, William Blair supervised the financial spectrum. Furthermore, Greenberg Traurig, LLP is a legal counsel to ePac, and Baird is a financial advisor to ePac in this deal.
23 January 2026
23 January 2026
23 January 2026
23 January 2026