Bolthouse Separates Into 2 Standalone Entities, Focusing on Fresh Produce and Beverage
Bolthouse Farms, a supplier of carrots, dressings, and beverages, is being split into separate entities focused on fresh produce and beverages, respectively.
Bolthouse Fresh Foods will offer fresh carrots while Generous Brands will encompass the company’s salad dressings and beverage catalog, which includes the Evolution Fresh drink line, previously owned by Starbucks until August 2022.
Each company will report to its respective leadership team with tailored business strategies — a change that Butterfly expects will drive increased flexibility in capabilities and acquisitions.
Timothy Escamilla, previously the president of Dole Fresh Vegetables, was named CEO of Bolthouse Fresh Foods. He brings 30 years of experience across the produce industry, also working with companies like Tanimura & Antle and Ready Pac Food.
Steve Cornell, former president of the fresh, beverages and desserts segment at Kraft Heinz, was tapped to lead Generous Brands as its CEO.
“This transaction will enable Generous Brands to meet the needs of more consumers through more innovation, new investments in our business, and acquiring complementary brands to take our platform to its full potential,” said Cornell, who joined the company in January 2024, bringing 15 years of experience leading global brands such as Heinz, Philadelphia, and Capri-Sun.
Butterfly operating partner Jeff Dunn has been promoted to executive chairman of both companies, previously serving as CEO.
“This separation is proof that the future of value creation within private equity is grounded in deep operational expertise and transformation through specialization, and we could not be more appreciative of the amount of work, creativity, and collaboration that went into this from all teams," said Dunn. "By separating, each business is now unleashed to drive its own unique growth strategy to ultimately deliver more fresh, healthy food for more people.”
Bolthouse Farms was previously under the Campbell Soup Company umbrella, acquired by Butterfly in 2019. The company’s produce business sells nearly 700 million pounds of carrots annually to retailers across North America.
