Linklaters advises PlantPlus Foods on acquisition of DEW-Drink Eat Well and Sol Cuisine

Linklaters has advised PlantPlus Foods in its acquisition of DEW-Drink Eat Well, the Kansas-based maker of Hilary’s brand of plant-based products and Sol Cuisine Ltd., a Canadian manufacturer of plant-based meat alternatives. The acquisition of Sol Cuisine was structured as a Plan of Arrangement under the Business Corporations Act of Ontario and included its delisting from the Toronto Stock Exchange.

The acquisition of DEW-Drink Eat Well closed on November 12, 2021 and the acquisition of Sol Cuisine closed on January 19, 2022.

PlantPlus Foods is a joint venture between Archer Daniels Midland (ADM) and the beef processor Marfrig Global Foods that was created in 2020 for the sale of plant-based food products across South and North American markets.

The acquisitions represent a milestone in PlantPlus Foods’s efforts to diversify its portfolios beyond animal-based protein sources.

The Linklaters team was led by partners Matthew Poulter in São Paulo and Scott Sonnenblick, Max Levine, Erez Liebermann, and Brenda DiLuigi in New York alongside U.S. Senior Counsels Jonathan Gafni and Craig Spenner, U.S. senior associates Pierre Perais, Valentin Riazanov, Kris Ekdahl and William Huynh, and U.S. associates Marcelo Lopes, Thomas Lemouche and Vasudha Anil Kumar with support from Law Clerk Titus Kabega.

Linklaters has advised Marfrig and PlantPlus Foods in respect of corporate, finance and securities issues relating to their global business strategy.