We advised Lavoro on the transaction with the SPAC

Davis Polk advised Lavoro Agro Limited on its definitive business combination with TPB Acquisition Corporation I, a special purpose acquisition company (SPAC) sponsored by The Production Board. The Production Board invested $100 million in a private placement of common equity concurrent with the closing of the business combination. The transaction closed on February 28, 2022. Starting today, a new U.S. publicly listed entity, Lavoro Limited, is listed on the Nasdaq under the ticker symbol “LVRO.”

Lavoro is Brazil’s largest agricultural inputs retailer and a leading provider of agriculture biologics inputs. Through a complete portfolio, Lavoro empowers farmers to adopt breakthrough technology and boost productivity. Founded in 2017, Lavoro has a broad geographical presence, operating in Brazil, Colombia and Uruguay.

The Production Board is a San Francisco-based investment holding company founded and led by David Friedberg, founder of The Climate Corporation. TPB was established to solve the most fundamental problems that affect our planet by reimagining global systems of production across food, agriculture, biomanufacturing, human health and the broader life sciences.

The Davis Polk corporate team included partner Manuel Garciadiaz, counsel W. Soren Kreider IV and Elliot M. de Carvalho and associates Hugo Casella and Alexandre Diniz. The tax team included partner Ethan R. Goldman and associate Justin Corvino. The executive compensation team included partner Adam Kaminsky. Members of the Davis Polk team are based in the New York, São Paulo and Washington DC offices.

Copy link to share post