AUA Private Equity Partners LLC has acquired the assets of TruFood Mfg. Inc., a snack food contract manufacturer. The firm intends to bring a number of resources, including capital, operational expertise and enhanced management depth, to allow the Pittsburgh company to better service its customers.
The terms of the transaction were not disclosed.
In addition to retaining current CEO Pete Tsudis, AUA Private Equity has engaged the expertise of industry veterans: President Ted Schouten and CFO Brad Balkovec. The company also has added Martin Frech, who brings extensive experience and long tenures with Mondelez and Hershey’s, to the TruFood board.
AOG LLC, dba TruFood Manufacturing will formulate and manufacture a full range of products, including nutrition bars, baked bars, protein bars, chocolate moulded products and granola products for its customer base of premier consumer packaged goods companies and retailers.
“TruFood will be a leading manufacturer in the growing snacking and nutrition bar segments, and this acquisition is a complement to our growing portfolio of food manufacturers. We see great growth opportunities in this industry and our strategic acquisition of TruFood will not only enhance the AUA portfolio but support TruFood’s long-term success.” AUA Private Equity Partner David Benyaminy said, in a statement.
AUA Private Equity is a New York-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 or companies benefiting from the growth of the U.S. Hispanic population. AUA Private Equity makes equity investments of $20 million to $75 million in companies that generate in excess of $5 million in EBITDA.
