Thrive Freeze Dry to Acquire Paradiesfrucht GmbH

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 Acquires Freeze‑Dry Foods from Cumming Capital

August 2, 2022

Food & Beverage

Thrive Freeze Dry, a portfolio company of Entrepreneurial Equity Partners and the Private Equity business of Mubadala Capital, has acquired Freeze‑Dry Foods from Cumming Capital. The acquisition adds a 240,000 sq. ft. freeze‑dry manufacturing facility in Albion, New York and brings specialized formulation and wet‑processing capabilities to Thrive's existing operations to expand its geographic footprint and product capabilities.

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.

Mars Acquires Trü Frü

December 19, 2022

Food & Beverage

Mars, Incorporated has signed an agreement to acquire Trü Frü, a better-for-you whole-fruit snacking brand, from its founders and management team. Trü Frü, headquartered in West Valley City, Utah with approximately 50 employees, will operate as a separate business within Mars to preserve its brand and will be led by current CEO Brian Neville; the transaction is expected to close in Q1 2023.

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.