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Sol Cuisine Ltd. acquired by PlantPlus Foods Canada Inc. for C$125.4M

Date Closed

January 19, 2022


125.40 Million CAD

On January 19, 2022, Sol Cuisine completed its previously announced definitive agreement, to be acquired by PlantPlus Foods Canada Inc., for C$125.4 million. PlantPlus Foods Canada Inc. acquired all of the outstanding common shares of Sol Cuisine Ltd. for C$2.06 per share in cash, and all of the outstanding common share purchase warrants and compensation options of Sol Cuisine for C$0.18. The Transaction was completed by way of a plan of arrangement under the Business Corporations Act (Ontario).

PlantPlus Foods Canada Inc. is wholly owned by PlantPlus Foods, LLC, which is a joint venture between Marfrig Global Foods S.A., one of the leaders in the protein industry and the world’s largest hamburger producer and Archer Daniels Midland Company, a global leader in human and animal nutrition and one of the world´s premier agricultural origination and processing companies.

Sol Cuisine Ltd. is a Canadian based fast-growing producer of branded, consumer-preferred plant-based protein offerings across key center-of-plate and appetizer categories.

McCarthy Tétrault advised PlantPlus Foods Canada Inc., PlantPlus Foods, LLC, Marfrig Global Foods S.A. and Archer Daniels Midland Company in an arrangement agreement for PlantPlus Foods Canada Inc. with a team led by Matthew Cumming that includes Suzie Cusson, Firuz Rahimi, Sarah Ferguson, Rebecca Summers (Corporate), Martha Harrison, Ashley Taborda (Regulatory), Joanna Rosengarten (Environmental), Patrick Pengelly, Nicole Naglie (Employment), Deron Waldock, Kelleher Lynch, Tracy Solhi (Benefits), Ryan Kady (Real Property), Vincent Yip (Intellectual Property), Kate McNeece and Erin Keogh (Competition).