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Mubadala Capital, a global asset manager and subsidiary of Mubadala Investments Abu Dhabi, has acquired TruFood Manufacturing, a contract manufacturer of snack foods.
Pennsylvania-based manufacturer Trufood is buying from a fund affiliated with AUA Private Equity Partners. The company did not disclose any financial details related to the transaction.
However, under the agreement, TruFood will remain a separate business with the same identity and operational autonomy.
The acquisition is expected to be @trufoodmfg stakeholders, including existing customers and employees, while enhancing the company’s competitive advantage, expanding market reach, advancing product development and accelerating long-term growth. pic.twitter.com/iSHIeU9YCt
— Mubadala Capital (@MubadalaCapital) October 19, 2022
“This acquisition is expected to deliver significant value to TruFood’s stakeholders, including its existing customers and employees, while enhancing the company’s competitive advantage, expanding market reach, advancing product development and accelerating long-term growth,” Mubadah said. La Capital said in a statement.
“TruFood is an exceptional company that has firmly established itself as a market leader, achieved through a proven history, continuous innovation and consistent delivery of quality products to its customers,” Director, Mubadala Capital Adnan Azam said.
“Even as a category leader, TruFood has tremendous growth potential, and we believe that leveraging our resources and network, coupled with synergies from the broader Mubadala Capital portfolio, will help the company reach even greater heights. “
TruFood CEO Pete Tsudis noted, “Mubadala Capital is committed to providing the resources and capabilities to continue TruFood’s growth trajectory.”
Mubadala Capital manages a diversified portfolio, particularly in the consumer and food service sectors, where the firm has invested approximately $2 billion over the past eight years.
Last year, Mubadala Capital acquired K-Mac Holdings, one of the largest Taco Bell Corp. franchisees in the United States.
read: Abu Dhabi fund Mubadala Capital acquires major Taco Bell franchisee
TruFood’s products include nutrition bars, protein bars, chocolate molded products and baked nutritional products, and its customers include consumer goods companies and retailers across the United States.
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