Orrick advised leading German food group PHW on their corporate venture capital investment in the U.S. food tech startup Good Catch, which develops vegan alternatives to fresh fish.
With this investment, PHW is extending its product range and, as with its distribution partnership with Beyond Meat and its strategic partnership with SuperMeat, defines itself as a provider of high-quality protein products. The aim is to help the vegan fish products to succeed in Europe as quickly as possible.
The investment was part of an $8.7 million Series A financing round, led by New Crop Capital. In addition to PHW, the participants included investors Blue Horizon, Stray Dog Capital, and Starlight Ventures.
PHW Group is a German producer of poultry specialties, animal nutrition and health products with close to 7,000 employees and revenue of about €2.5 billion. PHW is especially well known for their market leading “Wiesenhof” poultry products.
Good Catch was founded in 2016 and develops high quality vegan alternatives to fish and seafood products. The company is based near New York.
PHW Group was advised by an Orrick team led by Munich-based M&A and private equity partner Jörg Ritter, who previously advised PHW on their corporate venture capital investment in SuperMeat, an Israeli startup focused on artificial meat products, which was announced earlier this year.