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Power Sustainable Lios and McCain Foods lead C$150M investment in GoodLeaf Farms

Date Closed

December 7, 2022

Lead Office



150.00 Million CAD

On December 7, 2022, Power Sustainable Lios announced the closing of Goodleaf Farm’s C$150 million financing that was led by Power Sustainable Lios and McCain Foods. With the capital raise, GoodLeaf Farms, an indoor vertical farming operation, will establish a national footprint with new farms in Calgary and in the Montreal area alongside its existing fully automated farm in Guelph.

Power Sustainable Lios is a specialized North American agri-food private equity investment platform, supporting the sustainability transformation occurring within the food system.

GoodLeaf Farms is Canada’s first and largest commercial indoor vertical farm operation. GoodLeaf is a wholly owned subsidiary of TruLeaf Sustainable Agriculture.

McCain Foods is a Canadian multinational frozen food company established in 1957, which is the world's largest manufacturer of frozen potato products.

McCarthy Tetrault advised Power Sustainable Lios with a team led by Jeremy Pleasant that included Jonathan See, Hailey Schenker (Business), Christian Meighen, Julien Leblanc, Joy Elkeslassy (Tax), Patrick Pengelly, Marco Fimiani (Labour & Employment), Kelleher Lynch (Pensions, Benefits & Executive Compensation), Matthew Pekofsky, Sarit Pandya, Jean-Charles Panzini, Nicholas Alevras (Real Property & Planning), Martha Harrison, Gajan Sathananthan (Regulatory and International Trade), Stephanie Sugar (Litigation), Vincent Yip (Intellectual Property and Information Technology).