Manna Tree has acquired a majority stake in Zambezi, a Los Angeles-based independent creative agency, marking a strategic move to enhance its portfolio companies' marketing capabilities. Founded in 2004, Zambezi celebrates its 20th anniversary this year and serves clients like TaylorMade, ESPN, and the NFL. The acquisition, terms undisclosed, allows Manna Tree’s portfolio—including Good Culture, Gotham Greens, and Under Armour—to access Zambezi’s creative, media, and production services.
Zambezi will retain independent operations under CEO Jean Freeman and president Laura Stayt, maintaining offices in Los Angeles and Minneapolis. Manna Tree, established in 2018 by Ross Iverson and Rubenstein, has made 15 investments in consumer health and wellness firms. Legal and financial advisors included DLA Piper, Jones Spross, and Pharus.
Source: PE Hub · Summarized by HeadlinesBriefing