Laird Superfood Acquires Terrasoul Superfoods

Paul, Weiss advised Laird Superfood, Inc., and Nexus Capital Management LP in connection with Laird Superfood’s $48 million all-cash acquisition of Terrasoul Superfoods, LLC, a vertically integrated superfoods brand. The deal is subject to customary purchase price adjustments, with an additional earnout of up to $5 million payable in cash if certain performance-based milestones are achieved. The transaction was funded through a concurrent private placement of $60 million of Series A convertible preferred stock to affiliates of Nexus. Following the incremental investment, Nexus will own approximately 71.7% of the issued and outstanding shares of Laird Superfood.

The Paul, Weiss team was led by corporate partner Bianca Levin-Soler and included partner Steven Kaye; tax partner Robert Holo and counsel Daniel Bleiberg; intellectual property partner Jonathan Ashtor; executive compensation partner Arian Mossanenzadeh; and litigation counsel Audrey Paquet.