Actus Nutrition (“Actus”), a leading North American specialty ingredient manufacturer and portfolio company of Butterfly Equity (“Butterfly”), and Darigold, Inc., one of the nation’s leading dairy cooperatives, finalized a strategic partnership today to expand the production of milk proteins and other specialty food ingredients. The partnership between Actus and Darigold is built on two components involving facilities in Jerome, ID, and Sunnyside, WA.

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In Jerome, ID: Actus will take ownership of the facility and continue to manufacture non-fat dry milk. In addition, Actus intends to invest in the facility to expand its manufacturing capabilities to produce high-value milk protein products with continued supply from members of the Northwest Dairy Association co-op. This will be the second facility operated by Actus in Jerome.

In Sunnyside, WA: Darigold will produce and supply sweet whey powder, along with high-value whey products, exclusively for Actus Nutrition under a long-term commercial agreement. Whey protein markets have undergone tremendous growth in recent years due to strong consumer demand and product innovation.

“We continue to see strong global demand for high-quality dairy proteins, and this partnership accelerates our ability to meet that demand," said David Lenzmeier, Chief Executive Officer of Actus Nutrition. “The reliability of Darigold's manufacturing operations and the quality of its member-owners' milk make Darigold an excellent partner as we position ourselves to grow with our customers. Together, we are creating a more connected and efficient supply chain that supports innovation and delivers greater value to customers and farmer-owners alike."

Actus produces a wide range of protein and specialty ingredients for major food and beverage brands. In addition to being the largest manufacturer of whey and milk proteins in North America, Actus also produces PRObev® clear whey protein, CasPRO® U.S.-made casein and caseinate, in addition to specialty ingredients such as lactoferrin, alpha-lactalbumin, and milk fat globule membrane (MFGM).

"Our partnership with Actus Nutrition allows Darigold to maintain focus on our core business of processing our members’ milk and serving our customers here in the Pacific Northwest and around the world, while participating in the growing market for specialty protein ingredients," said Amy Humphreys, Chief Executive Officer of Darigold. "This partnership brings specialized expertise that complements our strong capabilities and will deliver long-term value for our member-owners."

The transition is expected to be completed by mid-June. No financial terms of the agreements are being disclosed.

About Actus Nutrition

Founded in 1945, Actus Nutrition is a vertically integrated manufacturer of nutritional ingredients for health and wellness products, and a co-manufacturer for many popular household brands. Actus Nutrition also has a significant presence within the livestock feed and pet industries. Additional information about Actus Nutrition can be found at Actus.com.

About Butterfly

Butterfly is a Los Angeles, California-based private equity firm that invests exclusively in the $26 trillion food sector. Butterfly is a leading “seed to fork” food ecosystem investor in North America and seeks to generate consistent investment returns through deep sector expertise, a data-driven investment process, and an operations-driven approach to value creation. Since its founding in 2016, the firm has invested in a diverse portfolio of category-leading businesses representing approximately $8 billion in enterprise value including The Duckhorn Portfolio, Rise Baking Company, Actus Nutrition, Chosen Foods, MaryRuth Organics, Pete and Gerry’s, Orgain, Generous Brands, Bolthouse Fresh Foods, QDOBA, and Pacifico Aquaculture. To learn more, please visit https://www.bfly.com/.

About Darigold, Inc.

Darigold, Inc. is one of the largest dairy cooperatives in the United States, processing milk from its member base of hundreds of Pacific Northwest family farms into a full range of consumer and ingredient products, including fluid milk, butter, cheese, and milk and whey proteins.

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