Manna Tree Acquired Majority Stake in Zambezi
The private equity firm purchased a majority share of the long-standing Los Angeles advertising agency.
Updated on Oct. 1, 2026 in Advertising
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Private equity firm Manna Tree has acquired a majority stake in Zambezi, a Los Angeles-based advertising agency. The agency will continue to operate as an independent entity following the investment.
Why it matters
Manna Tree intends to leverage Zambezi's creative expertise to bolster its portfolio of health and wellness brands. The move integrates specialized agency services directly into the firm's broader investment ecosystem.
Zambezi has operated for 20 years as a creative agency in Los Angeles. The firm has maintained partnerships with major brands including the NFL, ESPN, TaylorMade, and Liquid I.V.
The players
Manna Tree
A private equity firm that focuses on investments within the food, health, and wellness sectors.
Zambezi
A Los Angeles-based advertising agency that has spent two decades developing creative campaigns for high-profile clients.
Jean Freeman
She serves as the co-founder and CEO of the advertising agency Zambezi.
Laura Stayt
She currently serves as the president of Zambezi.
The details
Zambezi will maintain its independence as it serves its current client list while simultaneously pursuing new business opportunities. The agency will work closely with brands owned by Manna Tree to enhance their market presence.
Timeline
October 1, 2026: Manna Tree announced the acquisition of Zambezi.
Market Landscape
This move highlights the ongoing trend of private equity firms seeking to internalize creative agency capabilities to support growth within their own CPG brand portfolios. It positions Manna Tree to compete more effectively by streamlining marketing efforts across its health and wellness assets.
Existing clients of the agency should expect business as usual as the company continues to operate independently. The deal suggests that consumers may see closer collaboration between creative campaigns and the health brands housed within the Manna Tree portfolio.
The takeaway
Strategic acquisitions of creative agencies by investment firms reflect a desire to exert more control over brand narratives in the health sector. Agencies that secure such partnerships gain access to stable capital while maintaining their operational autonomy.
Further reading
For more on industry shifts, explore the Advertising section.
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