UAE’s Mubadala Capital buys US snack food maker TruFood

Mubadala Capital, a wholly-owned subsidiary of Mubadala Investment Company, has acquired US-based snack food contract manufacturer AOG, trading as TruFood Manufacturing (TruFood), WAM, UAE state-owned news agency reported.

The company was acquired from funds affiliated with AUA Private Equity Partners. Financial details of the transaction were not disclosed.

Headquartered in Pittsburgh, Pennsylvania, TruFood is a formulator and manufacturer of nutrition bars, protein bars, chocolate moulded products, and baked nutrition.

Mubadala Capital manages a diverse portfolio of investments across the globe, with investments worth $2 billion over the past eight years. 

Under the terms of the agreement, TruFood will remain a stand-alone business, maintaining operational autonomy.

Bloomberg reported last month that Abu Dhabi’s sovereign wealth funds – Mubadala Investment Co. and ADQ – are likely to become anchor investors for the possible initial public offering of Volkswagen-owned luxury carmaker Porsche.