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