Thrive Freeze Dry Acquires Freeze‑Dry Foods from Cumming Capital

Thrive Freeze Dry (EEP / Mubadala Capital) Acquires Groneweg Group (Freeze-Dry Foods)

June 27, 2023

Food & Beverage

Thrive Freeze Dry, a portfolio company of Entrepreneurial Equity Partners and Mubadala Capital, has signed a definitive agreement to acquire Groneweg Group (also marketed as Freeze‑Dry Foods), a Germany‑based manufacturer of freeze‑ and air‑dried ingredients. The add-on deal expands Thrive's global manufacturing footprint (adding operations in Greven, Germany and La Joya, Peru) and broadens its product suite for consumer packaged goods and retail customers; the transaction is expected to close in 2023 subject to customary approvals.

Entrepreneurial Equity Partners and Mubadala Capital Invest in Mercer Foods and Thrive Freeze Dry

January 13, 2022

Food & Beverage

Chicago-based private equity firm Entrepreneurial Equity Partners (e2p) and Mubadala Capital Private Equity have completed an investment in Mercer Foods and Thrive (Thrive Freeze Dry), combining the two businesses to create a North American market leader in freeze-dried products. Mercer, founded in 1980 and headquartered in Modesto, California, is a leading provider of freeze-dried fruit and vegetable ingredients; Thrive, founded in 2004, is a manufacturer of freeze-dried proteins, pet treats, probiotics, enzymes and prepared meals. Graham Partners is mentioned as the seller of Mercer; financial terms were not disclosed.

Thrive Freeze Dry (Thrive Foods) Acquires Canature

December 15, 2023

Food & Beverage

Thrive Freeze Dry (a portfolio company of Entrepreneurial Equity Partners and Mubadala Capital) has acquired Canature, a Langley, British Columbia-based freeze-dried pet food and treats producer. The add-on acquisition expands Thrive's freeze-drying capabilities and pet-focused offering by adding Canature's technical team, wet-processing expertise and a state-of-the-art facility near Vancouver; financial terms were not disclosed.

Thrive Freeze Dry to Acquire Paradiesfrucht GmbH

April 9, 2024

Food & Beverage

Thrive Freeze Dry, a portfolio company of Entrepreneurial Equity Partners and Mubadala Capital, has signed a definitive agreement to acquire Paradiesfrucht GmbH (Paradise), a German freeze-drying manufacturer that operates 20 freeze dryers across facilities in Salzwedel and Immekath. The acquisition, announced with customary approvals required and expected to close in 2024, expands Thrive's European manufacturing footprint and product offerings — including an opportunity to grow freeze-dried pet products in Europe; financial terms were not disclosed.

Arbor Investments Acquires Oregon Freeze Dry from Endeavour Capital

December 15, 2021

Food & Beverage

Arbor Investments has acquired Oregon Freeze Dry (OFD) from Endeavour Capital as the fifth platform investment for Arbor Fund V. OFD, founded in 1963 and headquartered in Albany, Oregon, is North America’s largest freeze-dryer serving consumer (Mountain House), military, and B2B pharmaceutical/nutraceutical customers; terms were not disclosed.

Trive Capital Invests in NutriFresh Services

March 10, 2021

Logistics & Distribution

Dallas-based private equity firm Trive Capital has provided a structured capital investment in NutriFresh Services, a cold-chain logistics and fulfillment provider headquartered in Edison, New Jersey. The financing will support management and existing shareholders as NutriFresh pursues national expansion, technology development and both organic and inorganic growth.