News

Butterfly acquires Modern Market

February 27, 2018

Butterfly, a Los Angeles-based private equity firm specializing in the food sector, has acquired Modern Market, founded in 2009, by Anthony Pigliacampo and Rob McColgan, according to a company press release. 

"By combining their unique technical backgrounds in engineering and business with a deep understanding of the most important trends impacting food today, Anthony and Rob have built a highly-scalable concept with an incredibly loyal following," said Adam Waglay, who co-founded Butterfly alongside Dustin Beck. "We look forward to helping Modern Market share its commitment to delicious, healthy, clean food at an accessible price point with an ever-expanding national audience."
 
Beck said Modern Market's innovative menu, emphasis on convenience and ability to meet any dietary need result in a concept with immense, broad appeal and significant room to grow. 

"We believe that Modern Market's offering is increasingly representative of the way that modern restaurant-goers prefer to eat, and we're excited to support Anthony and Rob in leading the charge in the fast casual space," he said. 

The brand is based in Denver and has 28 units across Colorado, Texas, Arizona, D.C. and Maryland.