TLT acts for Agroberries Limited in the completion of its financing facilities for the acquisition of the BerryWorld Group

TLT has acted for Agroberries Limited, a global berry grower-marketer, in the completion of its financing facilities for the acquisition of the remaining shares in the BerryWorld Group, Europe’s largest berry marketer.

The new Agroberries group has, following the acquisition, created the second largest berry company in the world.

TLT, the long-standing banking and finance advisor to the BerryWorld Group and the Argent Foods Group, also represented these groups in relation to the refinancing of their existing financing facilities and restructuring of the overall BerryWorld Group and the Argent Foods Group as part of the overall acquisition transaction.

The banking and finance team was led by banking partners Steve Downey and Mark Thomas who were assisted by associates Toby Morsley and Hugo Khan. Additional support was provided by trainee solicitors Hannah Stanley and Beth Pridham.

Steve Downey said: “This transaction was an extremely important one for the banking and finance team and the firm generally, not just because it further cements our relationship with Argent Foods Group, but it has also established TLT as the “go to” finance firm for the new Agroberries group, the second largest organisation of its kind in the world. The matter involved an incredible team effort in meeting the extremely tight deadline that was set for completion of the transaction and the clients were delighted with the service we provided”.

Mark Thomas said: “This was a great team effort internally and externally, reflected in the wonderful comments from Agroberries and Argent, and is yet another example of the strength in depth of TLT’s Structured and Speciality Finance team”.

Andrea Aburrow, CFO of Agroberries Group said: “It was a seamless service and I was absolutely delighted with the level of technical and commercial advice throughout. We are really grateful to TLT for their hard work and fast turnaround of documents. We found TLT to be extremely responsive and supportive and look forward to continuing to the relationship going forward – a real pleasure to work with”.

James Fallowfield-Smith, CFO of Argent Foods Group said: “TLT have played an extremely important role in the development and evolution of our business over the last couple of years. We look forward to continuing to work with TLT as the group evolves in the future and thank them for all of their support and input on this transaction”.