Akin Gump represented Thrive Foods in acquisition of Freeze-Dry Foods
The combination of the products will provide customers with a globally-diversified chain of drying locations, quality control and distribution network
American multi-national law firm Akin Gump Strauss Hauer & Feld has advised Mubadala Capital and its portfolio company Thrive Foods, in its agreement to acquire Groneweg Group’s, popular Freeze-Dry Foods, a global manufacturer and supplier of freeze and air-dried ingredients.
Mubadala is the wholly owned asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi, United Arab Emirates.
Founded in 1978, Groneweg Group is a global manufacturer and supplier offering a broad product suite of freeze and air-dried herbs, vegetables, spices, fruits, seafood, and cheese. It has a diversified customer base across consumer-packaged goods and retail companies. The company has a multinational footprint with manufacturing operations in Greven, Germany, where it is headquartered, and its second facility in La Joya, Peru.
Thrive Foods is a manufacturer of freeze-dried products, including fruits, vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals. Currently, it has facilities in California, Utah, New York, and Wisconsin. Thrive prides itself as a technical expert and flexible manufacturing partner for customers.
The Akin team was led by private equity partners Amy Wollensack and Daniel Tavakoli and included tax partner Menachem Danishefsky and associate Emily Grassett.