L.A.-based Butterfly Equity Acquires Duckhorn Portfolio

Los Angeles-based private equity firm Butterfly Equity announced the acquisition of St. Helena-based luxury wine company the Duckhorn Portfolio in a transaction valued at $1.95 billion. The acquisition has been approved by Duckhorn shareholders and is expected to close by early 2025.

“As a leading pure-play luxury wine producer, Duckhorn has, in our view, the best portfolio and strongest fundamentals in the industry,” said Vishal Patel, Butterfly partner, in a statement.

Butterfly Equity specializes in the food and beverage sector. Other portfolio companies include MaryRuth Organics, Orgain, Bolthouse Fresh Foods and QDOBA.

J.P. Morgan Securities LLC acted as financial advisor to Duckhorn, and Ropes & Gray LLP served as legal counsel to Duckhorn. KKR Capital Markets LLC advised Butterfly on the acquisition and Kirkland & Ellis LLP served as legal counsel.