News & Analysis

Paine Schwartz strikes A$1.5bn Costa Group deal, Astanor Ventures closes Fund II on €360m, OTPP pays C$600m for GreenCollar stake, TNFD delivers its final recommendations and more. Welcome to Field Notes, the start-of-the-week briefing for our valued subscribers only.

Ontario Teachers’ Pension Plan will acquire KKR’s 49% stake in GreenCollar, with the latter’s workers set to share in the windfall through an employee ownership scheme.

Costa Group chairman Neil Chatfield said the deal is in the best interests of shareholders, despite Paine Schwartz having reduced its offer from A$1.6bn.

Partner Christina Ulardic says many of the firm’s existing investors returned to back the firm’s second flagship vehicle.

The pair hope to reduce the risk for commercial financing and want to catalyze ‘hundreds of millions’ more in investments.

Schwartz says the genetics, breeding and licensing segment of the food and ag value chain is made up of ‘fundamentally important and good businesses’.

The firm has become a prolific early-stage venture capital investor and has backed more than 130 companies since it was founded in 2018.

Blue Road typically makes investments worth $75m or more to secure its favored controlling or influential minority positions.

The research body has found that farms with 'high natural capital' are more profitable in financial terms than those with more intensive farming operations.

Paine Schwartz Partners has reduced its takeover bid for ASX-listed Costa Group to A$3.20 per share, down from a previous bid of A$3.50, after Costa lowered its forecast earnings for H2 2023.