Orrick Represents Local Bounti on Acquisition of Indoor Farming Company Pete’s

April.08.2022

Orrick advised Local Bounti, a leader in controlled environment agriculture, on its acquisition of California-based indoor farming operator Pete’s, which sells its leafy greens to approximately 10,000 retail locations including Albertsons, Kroger, Target and Whole Foods. Among other aspects of the transaction, we advised on the refinancing of $170 million of committed credit facilities with Cargill Financial Services International, the proceeds of which were, in part, used to fund the acquisition.

The team that advised Local Bounti was led by partners Albert Vanderlaan, Zach Finley, Adam Ross and Nicole Walsh and also included senior associates Matthew Shellenhamer and Samantha Caluori, managing associates Catalina Bravo, Robin Freedman and Rachel Rice and associate Angela Chen.