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Private Equity | Food & Beverage

Thrive Freeze Dry has successfully sealed the acquisition deal with Paradiesfrucht GmbH

Paradiesfrucht GmbH, a gobal freeze dryer of fruits, fruit preparations, drops, powders and granulates, has been acquired by Thrive Freeze Dry (Thrive), a portfolio company of Entrepreneurial Equity Partners (e2p) and Mubadala Capital. The transaction is expected to close in 2024, subject to customary closing conditions, including antitrust approval.

Paradiesfrucht is well-known for its high-quality freeze-dried products, standing as a pioneer and innovator in the industry. With state-of-the-art production facilities, the company offers a diverse range of freeze-dried fruit products, securing a notable position in the European market. Beyond product quality, Paradiesfrucht’s commitment to sustainability and environmental friendliness sets it apart. The company’s product range includes freeze-dried fruits, snacks and specialized food ingredients.

Thrive is a global leader in the manufacturing of freeze-dried products, including fruits, vegetables, proteins, candies, pet treats, probiotics, enzymes and prepared meals. The company currently has facilities in California, Utah, New York, Wisconsin and Texas, (US), Canada, Germany and Peru. Thrive prides itself on its ability to serve as a technical expert and flexible manufacturing partner for its customers.

e2p is a middle-market, Chicago-based private equity firm focused on control-oriented investments in the food and consumer packaged goods industries. e2p’s team includes experienced food and consumer packaged goods executives and investors who bring an entrepreneurial mindset and extensive industry network to support and collaborate with portfolio company teams.

Mubadala Capital is the wholly owned asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi, UAE. Mubadala Capital manages approximately US$20 billion in aggregate assets across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors, including four flagship private equity funds, three early-stage venture funds, two funds in Brazil focused on special opportunities and a highly diversified evergreen investment strategy focused on private market opportunities. Mubadala Capital has offices in New York, San Francisco, (US), London, (UK), Rio de Janeiro (Brazil) and Abu Dhabi, (UAE).

Oaklins’ team in Germany acted as sell-side advisor in this transaction.

Parties
“The successful acquisition by Thrive represents a pivotal moment in Paradiesfrucht’s history. This strategic partnership not only unlocks new pathways for growth but also allows us to bring our freeze-dried products to a broader European and international market. We are confident that the synergies between Paradiesfrucht and Thrive will lead to sustained success. Both, Dr. Andreas Behr and the Oaklins team in Germany have been an indispensable partner throughout the entire process. With their exceptional dedication, the team has played a vital role in navigating the complexities of this deal. We deeply appreciate their strategic guidance and substantial operational support.”

Kurt Jahncke

Shareholder, Paradiesfrucht GmbH

Talk to the deal team

Dr. Lutz Becker

Associate Partner
Hamburg, Germany
Oaklins Germany

Christian Ernst

Senior Associate
Hamburg, Germany
Oaklins Germany

Kevin Johannes Kambach

Associate
Hamburg, Germany
Oaklins Germany

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