Opus advises Swiss Life Asset Managers on its partnership with Planet Farms

Category: Deal Announcement

Opus is pleased to have advised Swiss Life Asset Managers Infrastructure Equity on its investment into an industrial joint venture partnership with Planet Farms Holding, a leading Controlled Environment Agriculture (CEA) infrastructure developer and operator.

Swiss Life Asset Managers Infrastructure Equity will acquire a controlling stake in the joint venture through providing up to EUR 125 million to fund the development and the construction of future indoor farming facilities. Planet Farms Holding will contribute an operational 20,000m² vertical farm located in Lombardy, Italy, along with its existing customer relationships and project pipeline.

Planet Farms Holding is a world-leading technology company in the CEA sector based in Italy. It has developed end-to-end automated and climate agnostic facilities that integrate the entire supply chain process, from seeds to packaged products. It has several production and R&D sites, including its newest farm in Lombardy, growing crops for salads and sauces which are sold into Italian, Swiss and UK supermarkets.

Swiss Life Asset Managers Infrastructure Equity is a platform with EUR 12bn assets under management and a team of over 70 investment specialists. It has made more than 75 infrastructure investments since it was established in 2011 across the energy and renewables, communications, transportation, regulated utilities and social infrastructure sectors.

This landmark deal marks a significant development in the global CEA market, where lower production costs, improved product quality and decarbonised production has facilitated long term offtake agreements from food retailers. This transaction also adds to Opus’ track record advising in the CEA sector within its Energy Transition & Climate Change sector practice.

For further information please contact: Michael Mizon and Stuart Schofield.