Skip to content Skip to Search
Skip navigation

UAE’s Mubadala Capital buys US snack food maker TruFood

By Pramod Kumar
Person, Human, Bucket TruFood
TruFood will remain a stand-alone business, maintaining operational autonomy

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.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]