Neptune Wellness Solutions Inc.’s Acquisition of Controlling Interest in Sprout Foods

Fasken acted as Canadian counsel for Neptune Wellness Solutions Inc. in connection with this transaction.

On February 10, 2021, Neptune Wellness Solutions Inc.(NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose- driven lifestyle brands, announced the acquisition of a controlling interest in Sprout Foods, a portfolio investment of Morgan Stanley Expansion Capital.

Neptune is taking a controlling and management interest in Sprout Foods, an organic plant-based baby food and toddler snack company with USD$28 million in annual net revenues. As part of the transaction, investment funds managed by Morgan Stanley Expansion Capital will become a major shareholder in Neptune and partner with the company to grow Sprout within Neptune’s brand portfolio of consumer product goods.

The acquisition allows Neptune to accelerate its ongoing transformation into a disruptive consumer packaged goods company, providing customers with innovative health and wellness brands that harness the power of plant-based super ingredients.

The Fasken team comprised of Krisztian Toth (Picture), Peter Villani and Oleg Stratiev 

 

 

Involved fees earner: Oleg Stratiev – Fasken Martineau; Krisztián Tóth – Fasken Martineau; Peter Villani – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: Neptune Wellness Solutions Inc;

Martina Bellini

Author: Martina Bellini