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Butterfly Equity agreed to buy Bolthouse Farms, which focuses on making healthy products, from Campbell Soup Co. for $510 million in cash. Bolthouse is Butterfly's fourth investment in food across agriculture, aquaculture, food and beverage products, food distribution and food service. Butterfly operating partner Jeff Dunn will take on the role of Bolthouse's chief executive officer, where he previously worked as president and CEO from 2008 to 2012, when it was acquired by Campbell Soup.
Ridgemont Equity Partners has acquired New Lenox, Illinois-based Munch's Supply, a wholesale distributor of heating, ventilation and air conditioning equipment, parts and supplies. No financial terms were disclosed. Lincoln International served as financial adviser to Munch’s Supply on the deal while Baird and Livingstone did likewise for Ridgemont.
MTY Food Group said April 11 that it agreed to buy Papa Murphy's Holdings Inc for $6.45 a share or about $190 million. Papa Murphy's is a franchisor and operator of the Take 'n' Bake pizza brand and one of the largest pizza chains in the United States, that sells fresh, hand-crafted pizzas ready for customers to bake at home. Lee Equity Partners LLC took Papa Murphy’s public in 2014.
Silas Capital has made an investment in Bellroy, an accessories brand. No financial terms were disclosed.
Lyons Magnus, a portfolio company of Paine Schwartz Partners, has acquired Beloit, Wisconsin-based TRU Aseptics, a maker of aseptic products. No financial terms were disclosed.
Sunshine Fitness, which is backed by TSG Consumer Partners, has acquired Anchor Fitness, a Planet Fitness franchisee. No financial terms were disclosed. The MFA Companies was financial adviser to Anchor on the transaction.
Encore Consumer Capital has made an investment in 4505 Meats, a national pork rind brand. No financial terms were disclosed.
Kettle Cuisine, a portfolio company of Kainos Capital, has acquired Portland, Oregon-based Harry's Fresh Foods, a custom food manufacturing company. No financial terms were disclosed.
Investcorp has agreed to sell The Wrench Group, a provider of home maintenance and repair services, to Leonard Green & Partners. No financial terms were disclosed. Jefferies LLC was financial adviser to Wrench on the deal.
CEC Entertainment Inc, which owns Chuck E Cheese and Peter Piper Pizza, is merging with Leo Holdings Corp, a SPAC. CEC Entertainment, which is backed by Apollo Global Management LLC, will trade on the NYSE under the ticker “CEC.” Apollo is not selling shares in the transaction and will have 51 percent once the deal closes. CEC’s anticipated initial enterprise value is about $1.4 billion. Leo Holdings is blank check company formed by Lion Capital.

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