Simpson Thacher represented Flora Food and KKR in connection with a Rule 144A and Regulation S offering of €325 million aggregate principal amount of additional 6.875% Senior Secured Notes due 2029. The bond offering closed on February 3, 2025. The proceeds from the offering, were used to redeem a portion of Flora Food’s 7.875% Senior Dollar Notes due 2026 and 5.750% Senior Euro Notes due 2026.
Flora Food is a global leader in plant-based food, established in 2018. Flora Food develops, produces, distributes and markets plant-based dairy alternative products in over 100 countries across four core categories: Butters and Spreads, Creams, Liquids and Cheeses. Flora Food’s business is supported by a global distribution footprint, a highly efficient supply chain and a strong research and development team.
The Simpson Thacher team included Gil Strauss, Surya Bala, Ziang Zhou, Busra Kakdas and Lampros Anastasopoulos (Capital Markets); Michael Mann, Meredith Jones and Jenna Al-Malawi (Tax); Jonathan Pall (U.S. Collateral); and Jeanne Annarumma and Alexander Kharash (ERISA).