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Custom Flavors Announces Partnership with Butterfly and GrahamCustom Flavors, a developer and manufacturer of premium liquid and powdered flavor solutions, today announced a partnership with Butterfly Equity ("Butterfly") and Graham Partners ("Graham"), private investment firms with deep expertise in the food & beverage sector. Founded in 2000 and headquartered in San Clemente, California, Custom Flavors has built a strong reputation for innovation, technical expertise, and quality in the development of complex flavor systems for the most demanding applications. Custom Flavors' formulation capabilities are purpose-built for higher-complexity segments within the flavors space, including functional foods, protein & nutrition bars, gummies & nutraceuticals, and better-for-you snacks. The Company will continue to be led by Alex Wendling, CEO, with support from co-founders Mike Wendling and Steve Bishop. "What makes Custom special is our people. We're a team of flavorists and food scientists who genuinely love solving hard problems," said Alex Wendling, CEO of Custom Flavors. "This partnership gives us the resources to grow that team and keep raising the bar. It also means more investment in our facilities to unlock shorter lead times, expanded capacity, and the ability to serve customers coast to coast." Scott Nadison, President of Custom Flavors, added, "We are incredibly excited to partner with Butterfly Equity and Graham Partners. They bring deep experience and connections in the food sector and share our vision for Custom's next phase of growth." Custom Flavors' flavor systems are used in some of the most recognizable and fast-growing brands in North America. The Company's strong modulation and masking capabilities - critical in applications that contain high protein, high fiber, or other functional ingredients with off-notes - have established its position as an innovation partner of choice for its customers. With a newly opened, state-of-the-art facility in Concord, North Carolina, in addition to its primary San Clemente, California facility, Custom Flavors has established a bi-coastal manufacturing footprint that positions it well to serve customers at scale across the United States. "Custom Flavors is an exceptional business and one we have followed closely for many years," said Aaron Kirkbride, Partner at Butterfly. "Alex, Mike and Steve have built a platform with best-in-class technical capabilities, strong customer relationships, and a deep commitment to quality and servie." "Demand for functional, better-for-you, and clean-label products is growing quickly, and those are exactly the applications where great flavor is hardest to get right," said Andrew Snyder, Managing Partner and President at Graham. "Custom Flavors has built its reputation solving those challenges, and that puts the Company right where the market is heading. Graham is excited to partner with Butterfly and the Wendling family to support Custom's continued growth." In connection with the investment, Butterfly and Graham have created a flavor investment platform backing Custom alongside Target Flavors, a full-service flavor house serving the beverage, dairy, dairy alternatives, pharmaceutical and bakery industries, that Graham has partnered with since late 2025. Butterfly and Graham were advised by Simpson Thacher & Bartlett LLP and Dechert LLP on legal matters and by Deloitte on financial matters. Hexagon Capital LLC acted as financial advisor to Custom Flavors, and TALG LTD acted as legal counsel.
About Custom Flavors
About Target Flavors
About Butterfly
About Graham Partners
View source version on businesswire.com: https://www.businesswire.com/news/home/20260722497079/en/ |
