NEW YORK—Covington advised Mubadala Capital in its investment in Mercer Foods and Thrive Foods. The combination of the two businesses creates a North American market provider in freeze-dried products. The new platform will serve a variety of end markets including fruits and vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals.
Mubadala Capital is a wholly owned asset management subsidiary of Mubadala Investment Company, a global sovereign investor headquartered in Abu Dhabi. In addition to managing its own balance sheet investments, Mubadala Capital manages over $10 billion of third-party capital vehicles on behalf of institutional investors in all of its businesses, including three private equity funds, two early-stage venture funds, a public fund, and two funds in Brazil focused on special situations.
Mercer Foods is a leading provider of freeze-dried fruits and vegetables. Mercer offers a diverse portfolio of products across numerous applications.
Thrive Foods is a leading manufacturer of freeze-dried proteins, pet treats, probiotics, enzymes, and prepared meals.
The Covington team included Amy Wollensack, Daniel Tavakoli, Brett Cameron, and Montene Speight (corporate), Peter Schwartz and Jennifer Uren (debt finance), and Kevin Zaragoza and Abigail Hopper (tax).
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