Berlin - SMP has advised the founder and former CEO of LikeMeat, Timo Recker, as well as the Recker Holding GmbH on the sale of its 49% stake in LikeMeat to The Livekindly Company, Inc. ("LIVEKINDLY Collective"). As a result of this transaction, and having acquired the remaining 51% in the renowned food company from heristo AG at the beginning of the year, LIVEKINDLY Collective became the sole shareholder of LikeMeat. The parties agreed not to disclose further details of the transaction.
In addition, SMP accompanied Timo Recker on its entry into the international active plant-based food company during the USD 200 million "Founders' Founding Round". As a member of the "Founders' Board" of LIVEKINDLY Collective, he supports the global food company with his comprehensive industry expertise.
Timo Recker will now apply his extensive industry experience in the Asian market. As co-founder and CEO of Next Gen Foods with legal seat in Singapore, Timo Recker plans the development of high-quality vegetable foods that take into account the heterogeneity of the Asian food market. The company is currently preparing a Series A financing round for 2021.
Timo Recker and Recker Holding received comprehensive legal and tax advice on the transactions from a team led by the SMP partner Martin Schaper.
"The sale of LikeMeat has been one of the largest exit-transactions in the "plant-based-food" segment in recent years and consequently trend-setting for the entire sector" states SMP partner Martin Schaper. "We are pleased to have advised on this complex cross-border transaction and are monitoring the market for plant-based foods with great interest."
The LikeMeat GmbH was founded by Timo Recker in 2013 and is 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. Since March 2020 LikeMeat belongs to The Livekindly Company, Inc. and is managed 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 The Livekindly Company, Inc. ("LIVEKINDLY Collective") combines established brands and startup brands, including The Fry's Family Food Co., Oumph! and LikeMeat GmbH. LIVEKINDLY Media, the leading publisher for plant-based themes, is also part of the group. LIVEKINDLY Collective aims to transform the global food system and is currently the only company in the plant-based food sector to cover the entire value chain. LIVEKINDLY Collective has established strategic partnerships with seed breeders, producers and distributors and has invested in infrastructure to transform traditional meat production.
SMP is a law firm which is active in the core fields of Tax, Funds, Transactions, Corporate and Litigation. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players 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 has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.
Advisors Timo Recker/ Recker Holding: SMP
Dr. Martin Schaper (Lead, Corporate), Partner
Dr. Malte Bergmann (Tax), Partner
Dr. Martyna Sabat (Corporate), Associate
Dr. Ansgar Frank (Corporate), Associated Partner
Dr. Sebastian Schödel (Corporate Litigation), Associated Partner
Pia Meven (Corporate), Associate
Advisors Timo Recker/ Recker Holding: Dr. Koops & Partner
Dr. Christian Ruhe
Advisors Timo Recker/ Recker Holding: KNPZ Rechtsanwälte
Dr. Kai-Uwe Plath
Advisors Timo Recker/ Recker Holding: Buhler Duggal & Henry (New York)
Dr. Raoul Duggal
Carl T. Berry
Advisors Timo Recker/ Recker Holding: Luther (Singapur)
Birgitta von Dresky
During his time at SMP, Dr. Peter Möllmann also advised substantially on the sale of LikeMeat.