The transaction is expected to close in the first quarter of 2024, subject to regulatory approvals
The investment will be made through the company’s Acelen unit in Brazil and the company expects to start production in the first quarter of 2026
Canada Cartage currently operates through a network of 33 facilities across Canada and has two business segments, dedicated transportation and logistics
Mubadala Capital manages over $10bn of assets in third-party managed funds across its Brazil, private equity, public equities and venture capital businesses
The cloud kitchens will operate Reef, Americana and third-party brands as well throughout the Middle East and North Africa
The deal reflects Mubadala Capital’s foray into the food and beverage sector, where it invested about $1.8bn in the past seven years alone
Fund III raised capital commitments from leading pension plans, endowments, insurance plans, government institutions, family offices and private equity firms