Law firm Penningtons Manches Cooper advises Cibus on acquisition
Multinational law firm Penningtons Manches Cooper has advised London-based sustainable food and agriculture fund Cibus on the successful acquisition of Alba Trees.
The legal team for the deal was led by partner Will Axtell with support from senior associates Dominique Sabatini and Lindsay Chadwick, and associate Leo Shrimpton. They were assisted by corporate tax partner Kathy Hills, banking and finance partner John Chater, pensions partner Alison Hills, commercial partner Joanne Vengadesan, managing associate Edmund Forey, employment associate Luke Shaw and senior associates Nora Pook and Clare Coley.
Cibus has raised over $1 billion USD since its establishment in 2016, advising on growth and buyout investments by the Cibus Fund II in mid-market food production and processing businesses. The acquisition connects them with Alba Trees, a UK market leader in the production and supply of cell-grown plants for sustainable forestry.
Together, Cibus and Alba Trees look to expand production, aiming for the UK government’s environmental sustainability target to reach net-zero greenhouse gas emissions by 2050 through the planting of nearly a million hectares of new woodland.
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Rob Appleby, founder and CIO at Cibus Capital LLP, said: “Our partnership with Alba Trees brings an exciting addition to the Cibus portfolio. We are investing in companies which prioritise decarbonisation, and promote sustainable forestry, woodland creation and biodiversity.
“Alba Trees is an industry leader in this sector, providing farmers and landowners with the tools to achieve superior commercial returns and climate resilience.”
For the team at Penningtons Manches Cooper, this comes following their recent advisory role in a financing round for crop protection discovery company MoA Technology.
Corporate partner Will Axtell said: “We are delighted to have advised Cibus on this important acquisition of Alba Trees as they continue with their core focus of environmental sustainability. We wish Cibus and Alba Trees all the best for their exciting future.”
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