L Catterton leads CHF 70m Series B of Planted

Niederer Kraft Frey acted as Swiss counsel to L Catterton on its investment in Planted Foods AG as part of the company’s Series B financing round.

With approximately USD 33 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton’s team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made around 250 investments in consumer businesses.

Founded in July 2019, the ETH Zurich spin-off Planted uses its novel biostructuring approach (i.e. the combination of protein structuring and fermentation) to produce meat from alternative proteins such as peas, oats and sunflower, focusing on the perfect bite with exclusively natural ingredients. Planted will use the funding to launch a new line of products for so-called whole cuts, such as a plant-based chicken breast, as well as further international expansion and increased production capacity.

The NKF team was led by Corporate partner Patrik Peyer, working with associates Alexander Göbel and Naomi Loretz as well as junior associate Noëmi Birchler (all Corporate), counsel Janine Reudt-Demont (Regulatory), senior associate Oliver Zbinden (Real Estate) and associate Daniela Lötscher (Employment).