Amy Wollensack_Daniel Tavakoli

Akin: Mubadala Capital’s Thrive Foods Acquires Groneweg Group

Akin has provided legal counsel to Mubadala Capital and its portfolio company, Thrive Foods, a freeze-dried products manufacturer, in their acquisition agreement with global supplier of freeze and air-dried ingredients, Groneweg Group, also known as Freeze-Dry Foods. 

Mubadala Capital, a wholly owned asset management subsidiary of Mubadala Investment Company based in Abu Dhabi, UAE, initiated this transaction. The closing of the deal is anticipated in 2023, subject to customary closing conditions and necessary governmental approvals. The financial terms of the agreement were not disclosed. 

Established in 1978, Groneweg Group specializes in manufacturing and supplying a wide range of freeze and air-dried herbs, vegetables, spices, fruits, seafood, and cheese. The company serves various consumer-packaged goods and retail companies and operates manufacturing facilities in Greven, Germany (its headquarters), and La Joya, Peru. 

The merger of Thrive Foods’ product portfolio with Groneweg’s freeze-dried offerings aims to provide customers with a geographically diversified network of drying locations, stringent quality control measures, and an efficient distribution network. 

The Akin team was led by private equity partners Amy Wollensack and Daniel Tavakoli and included tax partner Menachem Danishefsky and associate Emily Grassett

suzan.taha@lcpublishinggroup.it

SHARE