Cyril Amarchand Mangaldas acted as legal counsel to Freshtrop Fruits Limited (Freshtrop), a listed company, on sale of its fresh fruits business to Green Agrevolution Private Limited (Green Agrevolution), operating under the under the brand name ‘DeHaat’. Freshtrop is engaged in the business of inter-alia, export of fresh fruits from India to regions in Europe, North America and Asia Pacific, and processing of fresh fruits to manufacture purees, concentrates and juices for clients in food and beverage segment.
The General Corporate Practice of Cyril Amarchand Mangaldas advised on the transaction. The Transaction team was led by Mudit Shah, Partner; with support from Saurabh Sharma, Principal Associate; Utkarsh Mankad, Senior Associate – Designate; and Vaidehi Pendam, Associate;
Praharsh Vyas, Principal Associate; was involved for real estate related aspects of the transaction.
As a part of the transaction, Freshtrop intends to sale the business of exporting and selling of fresh fruits and cut fruits outside India on a slump sale basis to Green Agrevolution. .
The deal is valued at INR 77 crore (plus certain variable consideration to be paid over the period of 2 (two) years).
Other advisors to the transaction included Maple Capital Advisors (acted as advisor for Freshtrop); Price Waterhouse & Co LLP (acted as financial and tax advisor for Freshtrop).
The transaction was signed and closed on 16th October 2023; and closed on 9thNovember 2023
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About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 170 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
