September 21, 2023

Mayer Brown advises Entrepreneurial Equity Partners and portfolio company Thrive Foods on acquisition of Groneweg Group

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  • Sarah Shirley Braun
Frankfurt — Mayer Brown advised Entrepreneurial Equity Partners and its portfolio company Thrive Foods on the acquisition of Groneweg Group. The parties agreed not to disclose financial terms.

Thrive Foods (“Thrive”) is a portfolio company of Entrepreneurial Equity Partners, a Chicago-based private equity firm focused on the food and consumer packaged goods industries and Mubadala Capital, the wholly owned asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi, UAE. 

Groneweg Group, founded in 1978, is a global manufacturer and supplier offering a broad product suite of freeze and air-dried herbs, vegetables, spices, fruits, seafood, and cheese. It has a diversified customer base across consumer-packaged goods and retail companies and a multi-national footprint with manufacturing operations in Greven, Germany, where it is headquartered, and its second facility in La Joya, Peru.

Thrive is a manufacturer of freeze-dried products, including fruits, vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals. Thrive currently has facilities in California, Utah, New York, and Wisconsin.

The Mayer Brown team was led by Corporate & Securities partners Adam G. Arnett (Chicago) and Carsten Flaßhoff, LLM (Düsseldorf) and included partner Thomas H. Horenkamp(Chicago), associates Lars Schinkel, LL.M., Wolfgang Löffler, LLM (both Düsseldorf) and Patrick Mock (New York),Tax Partner Volker Junge (Frankfurt am Main), Antitrust & Competition partner Christian Horstkotte and associate Teresa Gerhold (both Düsseldorf).

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