US-based co-manufacturer TruFood Manufacturing has completed its “combination” with Bar Bakers, a nutritional snacks maker.
Financial details were not disclosed.
TruFood’s chief executive Michael Buick will oversee the enlarged company. Harold Rothman, the founder and CEO of Bar Bakers, will join the group’s board of directors. Gary Jacobs, president of Bar Bakers, will become its COO.
Bar Bakers, headquartered in California, was founded in 2013 and manufactures cold-form, baked bars, as well as cookies and wafers. The company employs more than 1,000 workers across four manufacturing sites and two warehouses in California.
Buick said: “The coming together of TruFood and Bar Bakers marks a significant milestone as it strengthens our position in the nutritional snacks market. As a result, we have expanded our capabilities and portfolio of products and strategically extended our manufacturing footprint to the west coast.
“The combined company’s expertise and resources will enable us to better serve our customers and to accelerate our growth opportunities. I am thrilled to welcome Bar Bakers to our family. Their track record of customer partnership and operational excellence align perfectly with our values and vision.”
TruFood was snapped up by Middle Eastern state fund Mubadala Investment Company in 2022 through its subsidiary Mubadala Capital. New York-based AUA Private Equity sold the Pittsburgh business for an undisclosed sum, having acquired the company in 2019.
“Together with Mubadala Capital, Manna Tree and TruFood, Bar Bakers will have greater resources and new capabilities to support the continued growth of our valued customers,” added Rothman.
“On behalf of everyone at Bar Bakers, we look forward to coming together with the TruFood team and are confident that, together, the combined company will be best positioned to address the evolving needs of our customers and drive continued success for them, for our employees, partners and all our stakeholders.”
Adnan Azam, executive director at Mubadala Capital, added: “We see significant value in bringing together TruFood and Bar Bakers to create a single company that has the capabilities and expertise to lead this industry in the years ahead.”
Founded in 1985, TruFood – once trading as Tsudis Chocolate Co. – is a contract manufacturer of branded and private-label snack bars, chocolate moulded products, and baked goods for packaged goods companies and retailers. Its products are sold at club, grocery, drug, convenience, and department stores in the US.
TruFood acquired Simply Natural Foods, a better-for-you nutrition bar producer in New York State, in 2020.
