On February 10, 2021, Neptune Wellness Solutions Inc., a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose- driven lifestyle brands, announced the acquisition of a controlling interest in Sprout Foods, a portfolio investment of Morgan Stanley Expansion Capital.
Neptune is taking a controlling and management interest in Sprout Foods, an organic plant-based baby food and toddler snack company with USD$28 million in annual net revenues. As part of the transaction, investment funds managed by Morgan Stanley Expansion Capital will become a major shareholder in Neptune and partner with the company to grow Sprout within Neptune’s brand portfolio of consumer product goods.
This acquisition allows Neptune to accelerate its ongoing transformation into a disruptive consumer packaged goods company, providing customers with innovative health and wellness brands that harness the power of plant-based super ingredients.
A Fasken team comprised of Krisztian Toth, Peter Villani and Oleg Stratiev acted as Canadian counsel for Neptune Wellness Solutions Inc. in connection with this transaction.
