Organic nutrition products maker to be acquired

Orgain
Orgain to sell a majority stake in the company to Butterfly.

LOS ANGELES – Orgain, a manufacturer of organic nutrition products, will be acquired by Butterfly. The Los Angeles-based private equity firm specializes in the food sector.

Earlier this month, both companies announced Butterfly had signed an agreement to purchase a majority stake in the company. Orgain’s Founder Dr. Andrew Abraham, M.D. will retain a significant minority ownership position and will continue as Chief Executive Officer.

“We are excited about this next phase of growth for our brand, the ability to expand globally, and the opportunity to inspire so many more healthy, vibrant lives,” Abraham said in a statement.

A cancer survivor, Abraham launched Orgain in 2009 with the industry’s first organic ready-to-drink nutrition shake.

According to Orgain’s website, Abraham was diagnosed with a rare and aggressive form of cancer in his teens.

“During chemo and radiation, I lost my appetite entirely and experienced alarming weight loss,” he said. “When my doctors recommended nutrition shakes to get my weight up, the only options available were full of unhealthy and synthetic ingredients. So my mother and I started making our own organic shakes at home.

“The power of clean nutrition stayed with me as I entered my medical career. As I treated patients, I was consumed by the idea that I could help millions more people a day by bringing a healthier, organic nutrition shake to the market.”

Abraham took that desire to help others and quit his medical practice to start Orgain.

Since then, the company has produced numerous organic nutrition products from protein powders to shakes and bars.

Ontario Teachers’ Pension Plan, a limited partner of Butterfly, will also be a new minority investor alongside Butterfly and Abraham.

Goop Founder Gwyneth Paltrow chats with Sarah Jessica Parker in new podcast

Goop podcast, Gwyneth Paltrow, Sarah Jessica Parker

On the heels of a humorous and disturbing article published in The New York Times Magazine on lifestyle and wellness brand Goop, actress and CEO and Founder Gwyneth Paltrow chatted with former Sex and the City star Sarah Jessica Parker in a newly released Goop podcast. The topics ranged from motherhood, business, and books, to former co-star Cynthia Nixon’s campaign for New York governor.

Goop, a $250 million company, has come under fire recently for making unsubstantiated health and wellness claims. The Times article goes over many of them in amazing depth and witty and condescending detail. These “cultural firestorms,” as Paltrow refers to the accusations of critics, have prompted the company to hire a lawyer to vet claims made on the popular site with traffic of more than 2.4 million unique visitors, as well as hire professionals with science degrees and a full-time fact checker.