Browne Jacobson's Nottingham office has advised the shareholders on the sale of Bridge Farm Group to Canadian cannabis producer Sundial Growers Inc for an undisclosed consideration.
Browne Jacobson's Nottingham office has advised the shareholders on the sale of Bridge Farm Group to Canadian cannabis producer Sundial Growers Inc for an undisclosed consideration.
The deal comes just under two years after a successful management buyout of the business by Bridge Farm CEO David Ball with the backing of private equity investor NorthEdge Capital. As part of the deal David Ball has been appointed Sundial's European President.
Headquartered in Spalding, Bridge Farm is one of the UK’s leading producers of ornamental plants, flowers and herbs. The business employs over 500 employees across its five locations across Lincolnshire and serves a client base which includes, amongst others, major supermarket chains under the Neame Lea brand. The business has permission to double its growing facilities to 3.5 million sq ft over the next two years.
Alberta based Sundial Growers Inc. was established in 2014 and is a licensed cannabis producer and manufacturer of high-quality cannabidiol (CBD) based products for the wellness and health supplement market. It currently operates from two sites in Alberta and plans to build a third facility in British Columbia. The sale will see Sundial use part of the facilities in Spalding to cultivate hemp for the production of CBD, subject to regulatory approval.
Browne Jacobson’s Gavin Cummings and Sandra Wong, along with Clearwater International, advised the shareholders of Bridge Farm Group.
Gavin Cummings, corporate partner, said:
“We advised on the MBO of Bridge Farm Nurseries two years ago so we are delighted to have been instructed on this latest deal. The European CBD market is projected to be worth over £1.3 bn by 2023 so this deal will ensure Bridge Farm has the right expertise on board to tap into this potentially lucrative market and generate a new income stream for the business."
In this session, we examined the legal framework around grant funded collaborations and discussed the key risks to be aware of, including IP ownership and compliance with grant terms.
Bishopsgate Corporate Finance and law firm Browne Jacobson have jointly advised on the acquisition of award-winning tech solutions business, Custard Technical Services by US managers services and cyber security provider, Thrive.
National law firm Browne Jacobson has advised long standing retail client, Wilko on the sale and leaseback of its Nottinghamshire distribution centre in Worksop to logistics specialist DHL for £48m.
Law firm Browne Jacobson has appointed former Vice President and Chief Planning Officer (CPO) of Aston Martin Lagonda, Nikki Rimmington as its first Non-Executive Director (NED) of its Manufacturing & Industrials sector strategy board.
In a judgment handed down yesterday the Supreme Court has affirmed that a so called “creditor duty” exists for directors such that in some circumstances company directors are required to act in accordance with, or to consider the interests of creditors. Those circumstances potentially arise when a company is insolvent or where there is a “probability” of an insolvency. We explore below the “trigger” for such a test to apply and its implications.
Created at the end of the Brexit transition period, Retained EU Law is a category of domestic law that consists of EU-derived legislation retained in our domestic legal framework by the European Union (Withdrawal) Act 2018. This was never intended to be a permanent arrangement as parliament promised to deal with retained EU law through the Retained EU Law (Revocation and Reform) Bill (the “Bill”).
Browne Jacobson’s corporate technology dealmakers have advised Agilico, a workplace technology business, on its acquisition of Capital Document Solutions Limited for an undisclosed amount.
Browne Jacobson’s lawyers have advised Suez SA and its shareholders on its acquisition of its former UK waste management business – Suez R&R UK - from French headquartered business Veolia for an enterprise value of £2 billion.
The Supreme Court has unanimously dismissed the BTI v Sequana appeal and reviewed the existence, content and engagement of the so-called ‘creditor duty’; being the point at which the interest of creditors is said to intrude upon the decision-making of directors of companies in financial distress.
It was reported in May 2022 that the BMW-owned manufacturer had been forced to put a temporary stop on the production of all manual transmission vehicles due to the global semi-conductor shortage and the war in Ukraine. Mini stated that the move was made in order to "ensure production stability".
Browne Jacobson has bolstered its commercial practice in the UK with the appointment of commercial contracts and international trade specialist, Emma Roake, into its City-based London team.
Browne Jacobson’s national private equity (PE) lawyers have advised leading mid-market PE investment firm, Palatine Private Equity (Palatine) on its exit from CTS Group, the fast-growing specialist in testing, inspection and geoengineering consulting services to the construction and infrastructure sectors.
Browne Jacobson’s corporate finance lawyers have advised leading mid-market private equity firm, LDC and management on the sale of specialist managed IT services provider, Littlefish to Bowmark Capital.
The Digital Markets Act (the “DMA”) joins the dots between competition law and data protection law and actively targets data-driven platforms. It is also a comprehensive regulation to take note of, with familiar GDPR-style fines tied to turnover.