Mubadala Capital Portfolio Company TruFood Manufacturing to Combine with Bar Bakers
Bar Bakers has been an integral west coast manufacturer for major nutritional snack brands, offering cutting-edge production capabilities
IMAGE CREDIT: Nick Roskelly
TruFood Manufacturing, a US contract manufacturer specializing in better-for-you nutrition bars, chocolate and baked granola, announced the successful completion of its combination with Bar Bakers, LLC (“Bar Bakers”), a prominent player in nutritional snacks manufacturing. The union of these two leading companies is expected to create a scaled industry player with a significant footprint across product categories and geographies. Although the financial specifics remain private, investment firm Manna Tree has joined Mubadala Capital in supporting this venture.
TruFood’s chief executive officer, Michael Buick, will oversee the combined company. Harold Rothman, founder and CEO of Bar Bakers, will join the new company’s board of directors, while Gary Jacobs, President of Bar Bakers, will become its chief operating officer.
Since its inception in 2013, Bar Bakers has been an integral west coast manufacturer for major nutritional snack brands, offering cutting-edge production capabilities. Their market leading technologies in cold form, baked bars, and cookie and wafer manufacturing complements TruFood’s existing strengths, which is expected to cultivate deeper relationships with customers and speed up innovation. Bar Bakers, which is headquartered in Los Alamitos, Calif., has more than 1,000 employees across four manufacturing sites and two warehouses in California. The integration process will be conducted with careful consideration to ensure a smooth transition for employees, customers, and other stakeholders.
Akin Gump Strauss Hauer & Feld LLP acted as legal advisors to Mubadala Capital. Winston & Strawn LLP acted as legal advisors and Houlihan Lokey as financial advisors to Bar Bakers.
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