Ogier acted as Cayman Islands counsel to Fazenda Futuro Produtos Alimentícios S.A. in the establishment of a Cayman Islands company to act as a holding company to its operating companies, the transfer of shares in its Brazilian operating companies to the holding company in exchange for shares, and the issuance of preference shares in a new funding round.
Fazenda Futuro is a food tech start-up that produces plant-based meat alternatives. The company has about 2,000 points of sale in Brazil and has recently embarked on an international expansion into the United States, Europe, and the Middle East. The transaction plays a key role in its continued international expansion.
A separate Ogier team also acted for one of the lead investors in establishing a Cayman Islands private equity fund specifically designed to participate in this investment round.
The Ogier team advising on the corporate aspects of the deal included partner Giorgio Subiotto, senior associate Michael Robinson, associate Graeme Loarridge, and foreign associate Johnatan Maranhao. Managing associate Tim Cone and associate Stephen Crowther advised on the establishment of the private equity fund for the lead investor.
Giorgio said: "We are seeing a very strong flow of VC investment into Brazilian technology companies and this was yet another exciting transaction we were fortunate to be part of – this time in the food tech segment."