Los Angeles-based private equity firm Butterfly said Tuesday it has acquired Pacifico Aquaculture, which specializes in the farming of striped bass.

Terms of the transaction were not disclosed.

Founded in 2010 and based in Baja California, Mexico, Pacifico is a leading producer of ocean-raised striped bass. Pacifico's striped bass is sold through distributors, retailers and restaurants across North America.

"This is an exciting new chapter for Pacifico and we look forward to our partnership with the Butterfly team," said Omar Alfi and Daniel Farag, co-CEOs of Pacifico. "Butterfly understands our business well and shares our vision for the future, and we are excited to have a partner with deep industry expertise in the food sector."

"We love that Pacifico is committed to sustainable and responsible aquaculture practices and has received numerous sustainability certifications and awards, including the highest four-star designation from the Global Aquaculture Alliance's Best Aquaculture Practices (BAP) certification program earlier this year,"said Adam Waglay, who co-founded Butterfly with Dustin Beck.

Butterfly specializing in the food sector, focusing on four target verticals: agriculture & aquaculture, food & beverage products, food distribution and foodservice.

Aquaculture

Private equity firm buys Mexico bass farmer