Morrison Foerster advised AgroFresh Solutions Inc. (“AgroFresh”) (NASDAQ: AGFS), a Philadelphia-based provider of technologies and services to extend the shelf life of fresh produce, in connection with its go-private buyout deal with sustainable food chain investing firm Paine Schwartz Partners.
AgroFresh entered into a definitive merger agreement through which Paine Schwartz Partners will acquire all of the company’s outstanding common stock for $3.00 per share in cash. Consummation of the transaction is conditioned on approval of the unaffiliated stockholders of AgroFresh and is subject to other customary closing conditions. The transaction is expected to close in the first quarter of 2023. Following the completion of the acquisition, AgroFresh will become a private company.
The MoFo deal team advising AgroFresh was led by corporate department co-chair Mitchell Presser, and corporate partners Omar Pringle and Joe Sulzbach, together with corporate associates Dana Lyons and JD Husband. The wider team included executive compensation partner Domnick Bozzetti, tax partner Tony Carbone, capital markets partner John Hensley, litigation partner Erik Olson, finance partner Dario Avram and of counsel Eric Min, antitrust partner Vishal Mehta, technology transactions partner Anthony Ramirez, and for FDI matters, partners Marie-Claire Strawbridge and Felix Helmstaedter.