<a href="https://www.thenationalnews.com/business/economy/2022/03/01/mubadala-capital-invests-in-australian-company-promoting-new-motorcycling-championship/">Mubadala Capital</a>, the asset management subsidiary of Abu Dhabi’s <a href="https://www.thenationalnews.com/business/2022/02/22/mubadala-and-apollo-expand-partnership-to-seek-multi-billion-deals-across-asset-classes/">Mubadala Investment Company</a>, has acquired TruFood, a US-based snack food contract manufacturer, to boost its portfolio in the consumer and food services segment. Mubadala Capital is buying TruFood from funds affiliated with the Florida-based investment company AUA Private Equity Partners, Mubadala Capital said on Tuesday. Financial details of the transaction were not disclosed. “The acquisition is expected to deliver significant value to TruFood’s stakeholders, including its existing customers and employees, while bolstering the company's competitive advantage, increasing its market reach, advancing product development and accelerating long-term growth,” Mubadala Capital said. Based in Pittsburgh, Pennsylvania, TruFood manufactures different products including nutrition bars, protein bars, chocolate moulded products and baked nutrition, with various consumer packaged goods companies and retailers operating in the US as its customers. “TruFood has significant growth potential and we are confident that access to our resources and network, combined with the synergies within the wider Mubadala Capital portfolio, will help the company reach even greater heights,” Mubadala Capital’s director Adnan Azam said. The latest deal comes as Mubadala Capital continues to boost its investments in the consumer and food services segment with investments worth $2 billion in the past eight years, including the recent investment in Thrive Foods, a top player in the freeze-dried food segment. Set up in 2011, Mubadala Capital has grown significantly in scale over the past decade, with offices around the world. It manages $17bn in aggregate across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors. This includes four private equity funds, three early-stage venture funds and two funds in Brazil focused on special situations. “We are confident this investment will enable us to drive innovation, better serve our customers and ultimately maximise our market position,” Pete Tsudis, chief executive of TruFood, said. TruFood will remain a stand-alone business and will maintain the same identity and operational autonomy as per the terms of the agreement, officials said. Akin Gump Strauss Hauer and Feld acted as legal advisers and William Blair as financial advisers to Mubadala Capital on the deal. McDermott Will and Emery acted as legal advisers and Houlihan Lokey as financial advisers to TruFood. In August, <a href="https://www.thenationalnews.com/business/economy/2022/03/01/mubadala-capital-invests-in-australian-company-promoting-new-motorcycling-championship/">Mubadala Capital</a>, also signed an agreement to acquire Ontario-based logistics company Canada Cartage to boost its presence in the supply chain industry. It also invested in Australian company <a href="https://www.thenationalnews.com/business/economy/2022/03/01/mubadala-capital-invests-in-australian-company-promoting-new-motorcycling-championship/">SX Global</a>, which is set up to promote the next FIM Supercross World Championship.