08.11.2023 | Deal Notifications
KPMG Law advises Wide Open Agriculture on the acquisition of assets of Prolupin GmbH
KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) advised Wide Open Agriculture Limited (WOA) on the agreement to acquire the assets of Prolupin GmbH. The agreement provides for the acquisition of part of the food tech company’s business by WOA’s newly founded German subsidiary as part of an asset deal.
Listed Australian company WOA acquires Prolupin’s production facilities, enabling it to immediately establish an operational presence in Europe and become the world’s leading producer of lupin proteins.
Prolupin was founded in 2010 as a spin-off of the Fraunhofer Institute and was one of the global market leaders in the production of lupin protein isolates. The company had to file for insolvency in June 2023. Wide Open Agriculture Limited focuses on regenerative food and agriculture and produces plant-based proteins from lupins.
KPMG Law closely advised WOA with a team led by Düsseldorf partner Maximiliane Prüm on the acquisition of the assets from insolvency, in particular in the areas of corporate, employment and IP law.
Prolupin was advised in its search for investors by Pluta Rechtsanwalts GmbH, which is responsible for insolvency administration with a team led by Michael Bonhoff.
Advisor to Wide Open Agriculture:
KPMG Law Rechtsanwaltsgesellschaft mbH: Maximiliane Prüm (partner, lead), Dr. Cordula Brügmann (manager), Laura Herr (paralegal, all corporate M&A), Gunars Urdze (senior manager, lead insolvency law), Dr. Martin Trayer (partner), Liza Rauter (associate, both employment law), Marie Goffin (manager, IP).
