AUA Private Equity Partners Consummates Sale of AOG, LLC d/b/a TruFood Manufacturing

WEST PALM BEACH, FL. (October 18, 2022) – AUA Private Equity Partners, LLC (“AUA Private Equity”) is pleased to announce the sale of AOG, LLC d/b/a TruFood Manufacturing (“TruFood” or the “Company”), a leading snack food contract manufacturer for high growth consumer packaged goods brands. The Company was acquired by Mubadala Capital in partnership with management. Terms of the transaction were not disclosed.

Based in Pittsburgh, Pennsylvania, TruFood is one of the fastest growing formulators and manufacturers in the better-for-you snacking category which includes nutrition bars, functional chocolate products and baked nutrition. TruFood has become a trusted steward of, and partner to many of the leading snack brands, supporting their growth through new concept ideation and formulation, commercialization, best-in-class manufacturing, and supply chain management services.

AUA Private Equity formed TruFood in 2019 with veteran food executive, Ted Schouten, with the goal of building an innovative and best-in-class snack food manufacturer. During AUA Private Equity’s stewardship, TruFood saw outsized earnings growth through the support of investment in management talent, the creation of TruFood Launchpad (TruFood’s innovation center), adding new customers, investing in new production capabilities and acquiring a complementary business.

“TruFood has been a strong performing food platform that has exceeded our expectations,” said Kyce Chihi, Managing Director at AUA Private Equity. “TruFood was built into a powerful and differentiated business model, and the Company’s success would not have been possible without the leadership team who executed on every aspect of the transformative value creation plan.”

“TruFood is a great example of how AUA Private Equity’s focus on partnering with top caliber executives and building a world-class management team can drive tremendous value for our investors,” commented Andy Unanue, Managing Partner of AUA Private Equity. “Our joined efforts have helped to completely transform this business and we wish them continued success in their next phase of growth with their new partners.”

The sale transaction was led by Partner David Benyaminy, Managing Director Kyce Chihi, Senior Associate Nicolas Pflaum, and Analyst Trip Ewig. Houlihan Lokey acted as financial advisor and McDermott Will & Emery as legal advisor to AUA Private Equity. Additional advisors to AUA Private Equity and TruFood included Boston Consulting Group and Grant Thornton.

About AUA Private Equity Partners

AUA Private Equity Partners is a West Palm Beach, FL based, operationally-focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $20 to $75 million in companies that generate in excess of $5 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com

About TruFood

TruFood Manufacturing is a leading contract manufacturer of branded nutrition bars, protein bars, chocolate moulded products and baked goods. These products are sold at club, grocery, drug, convenience, and department stores. TruFood has a large presence on the East Coast with over 400,000 sq. ft. of state-of-the-art manufacturing facilities and continues to grow through its strong reputation for manufacturing high-quality snack products for its marquee customer base.

CONTACT

AUA Private Equity Partners
Kyce Chihi, Managing Director
Kyce.Chihi@auaequity.com