FBT Gibbons Advises Trek One Capital on Acquisition of No Cow and Good Karma Foods

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• Consumable Goods
• Corporate Law
• Mergers & Acquisitions
• Private Equity & Venture

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FBT Gibbons served as legal counsel to Trek One Capital in connection with its acquisition of No Cow and Good Karma Foods, advising on the deal structure and debt financing for this strategic, dual-brand acquisition.

The FBT Gibbons deal team was led by Houston Partner Darryl Mazow, with assistance from attorneys Tim Swanson, John Kellogg, and Yasaman Hosseini from the firm's Denver office, along with Sarah Naseman from its Houston office.

The transaction, announced May 18, 2026, brings two leading better-for-you consumer brands under Trek One's growing portfolio of offerings in the food and beverage sector, including premium chocolate brand Alter Eco Foods, which it acquired in 2023.

Trek One Capital is a Houston-based private equity firm focused on growth-oriented businesses operating and innovating in the middle market. Its recent acquisition of No Cow and Good Karma Foods is in line with this investment focus.

No Cow is a leading producer of plant-based protein bars, while Good Karma Foods is a leading producer of flaxmilk, a non-dairy, allergen-friendly milk alternative. Both brands are sold nationally through retail and direct-to-consumer channels.

FBT Gibbons' Business Combinations & Capital Transactions and Private Equity & Venture teams offer decades of experience creating value for investors, private funds, sponsors, management teams, and owners through successfully directing M&A and divestiture transactions, as well as joint ventures and strategic business combinations of all sizes.

About FBT Gibbons

FBT Gibbons LLP is a national law firm focused on serving companies operating and investing in the middle market. With nearly 800 lawyers across 26 offices, the firm is positioned to support clients ranging from large multinationals to mid-sized businesses and growth-oriented startups across the United States. FBT Gibbons provides legal counsel enriched with valuable business and market context, particularly in corporate, litigation, and regulatory matters within the energy, finance, life sciences, and manufacturing sectors. The firm is committed to delivering excellent service to its clients, colleagues, and the communities in which it operates.