Berlin — In selling its 49% stake in LikeMeat to The Livekindly Company, Inc. (“LIVEKINDLY Collective”), SMP advised the founder and former CEO of LikeMeat, Timo Recker, as well as Recker Holding GmbH. As a result of the transaction, LIVEKINDLY Collective became the sole shareholder of LikeMeat, having already acquired the remaining 51% stake in the renowned food company from heristo AG earlier this year. Further details of the transaction were not disclosed.
SMP also assisted Timo Recker in his investment in the internationally active plant-based food company as part of the $200 million “Founders’ Funding Round.” As a member of the “Founders’ Board” of LIVEKINDLY Collective, he actively supports the global food company with his extensive industry expertise.
Timo Recker will now apply his extensive industry experience to the Asian market. As co-founder and CEO of Next Gen Foods, he plans to develop high-quality plant-based foods that address the heterogeneity of the Asian food market. The company is currently preparing a Series A financing round for 2021.
“The sale of LikeMeat was one of the largest exit transactions in the “plant-based-food” segment in recent years and thus forward-looking for an entire industry” says SMP partner Martin Schaper. “We are pleased to have managed this complex cross-border transaction and are watching the plant-based food market with great interest” he added.
LikeMeat GmbH was founded in 2013 by Timo Recker and is still considered a pioneer in the production of plant-based foods. LikeMeat has its administrative headquarters in Düsseldorf and two production facilities in Oss, the Netherlands. As of March 2020, LikeMeat is part of The Livekindly Company, Inc. and is headed by the managing director Tal Nadari. The company employs 120 people and sells its products mainly in food retail. Today, LikeMeat products are available in Germany, the United Kingdom, Scandinavia and the Netherlands.
The Livekindly Company, Inc.
The Livekindly Company, Inc. (“LIVEKINDLY Collective”) combines established brands and startup brands, including The Fry’s Family Food Co, Oumph! and LikeMeat GmbH. It also includes LIVEKINDLY Media, the leading publisher of plant-based topics. LIVEKINDLY Collective’s mission is to transform the global food system and is currently the only company in the plant-based food space to map the entire value chain. LIVEKINDLY Collective has built strategic partnerships with seed growers, producers and distributors and invested in infrastructure to transform traditional meat production.
SMP is a specialist tax and commercial law firm operating in the core areas of corporate, funds, litigation, tax and transactions. SMP attorneys and tax advisors represent a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. Since its foundation in 2017, SMP has become one of the leading addresses for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus, and Chambers and Partners. Today, SMP employs over 50 experienced lawyers and tax advisors in three offices in Berlin, Hamburg and Cologne. www.smp.law
Advisors Timo Recker / Recker Holding GmbH: SMP
Dr. Martin Schaper, Photo (Lead/Corporate), Partner
Dr. Malte Bergmann (Taxes), Partner
Dr. Martyna Sabat (Corporate), Associate
Dr. Ansgar Frank (Corporate), Associated Partner
Dr. Sebastian Schödel (Corporate Litigation), Associated Partner
Pia Meven (Corporate), Associate
During his time at SMP, Dr. Peter Möllmann was also instrumental in advising on the sale of LikeMeat.
Advisors Timo Recker / Recker Holding GmbH: Dr. Koops & Partner
Dr. Christian Ruhe, Christoph Gerhards
Advisors Timo Recker / Recker Holding GmbH: KNPZ Rechtsanwälte
Dr. Kai-Uwe Plath, Matthias Struck
Advisors Timo Recker / Recker Holding GmbH: Buhler Duggal & Henry (New York)
Dr. Raoul Duggal, Carl T. Berry
Advisors Timo Recker / Recker Holding GmbH: Luther (Singapore)
Birgitta von Dresky, Nina Rompis