Akin Advised Thrive Freeze Dry In Acquisition Of Paradiesfrucht
Akin Advised Thrive Freeze Dry In Acquisition Of Paradiesfrucht
Akin advised Mubadala Capital and its portfolio company, Thrive Freeze Dry, a renowned manufacturer of freeze-dried products, in their agreement to acquire Paradiesfrucht GmbH (Paradise).
Paradiesfrucht GmbH, a subsidiary of the esteemed Jahncke group founded in 1883, has established itself as a fifth-generation family-owned business and a global leader in supplying freeze-dried products to various sectors, including beverage, cereal, snack, bakery, and confectionery markets. With 20 freeze dryers operating across two facilities in Salzwedel and Immekath, Germany, Paradise has been at the forefront of innovation and quality in its industry.
Thrive Freeze Dry, backed by Entrepreneurial Equity Partners and Mubadala Capital, is positioned as a frontrunner in freeze-dried product manufacturing. With facilities in multiple countries, including the United States, Canada, Germany, and Peru, Thrive boasts a diverse product portfolio encompassing fruits, vegetables, herbs, proteins, candies, pet treats, probiotics, enzymes, and prepared meals.
The acquisition of Paradiesfrucht GmbH is expected to significantly enhance Thrive's manufacturing capabilities and market presence in Europe, further solidifying its standing as a global leader in the freeze-dried products sector.
Akin Gump's involvement in the acquisition was led by private equity partners Amy Wollensack and Daniel Tavakoli, supported by tax partner Menachem Danishefsky and private equity associate Rafita Ahlam.
