KPMG Law advises Wide Open Agriculture on the purchase of assets of Prolupin GmbH

KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) has advised Wide Open Agriculture Limited (WOA) on the agreement to acquire assets of Prolupin GmbH. The agreement provides for the acquisition of a part of the food tech company’s business by the newly established German subsidiary of WOA as part of an asset deal.

The Australian listed company WOA takes over Prolupin’s production facilities, enabling it to establish an immediate operational presence in Europe and become the leading lupin protein producers in the world.

Prolupin was founded in 2010 as a spin-off of the Fraunhofer Institute and was one of the world 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 derived from lupins.

KPMG Law closely advised WOA on the acquisition of the assets out of insolvency with a team led by Düsseldorf partner Maximiliane Prüm, in particular with regard to corporate, labour and IP law.

In the search for investors, Prolupin was advised by Pluta Rechtsanwalts GmbH, which is responsible for the insolvency administration with a team led by Michael Bonhoff.

Advisors to Wide Open Agriculture:

KPMG Law Rechtsanwaltsgesellschaft mbH: Maximiliane Prüm (Partnerin, Federführung), Dr. Cordula Brügmann (Managerin), Laura Herr (Paralegal, all Corporate M&A), Gunars Urdze (Senior) Manager, Federführung Insolvenzrecht), Dr. Martin Trayer (Partner), Liza Rauter (Associate, beide Arbeitsrecht), Marie Goffin (Managerin, IP).

Advisors to Prolupin:

Pluta Rechtsanwalts GmbH: Michael Bonhoff (Niederlassungsleiter Rostock und Bestellter Insolvenzverwalter, Federführung)