Mastronardi Produce long-term leases
We advised Mastronardi Produce on the transaction
Davis Polk advised Mastronardi Produce Limited in connection with its entry into two long-term leases related to greenhouse facilities in Kentucky with affiliates of Equilibrium Capital. Equilibrium Capital had acquired the two facilities in the sale by AppHarvest Richmond Farm, LLC and AppHarvest Morehead Farm, LLC under section 363 of the Bankruptcy Code in connection with the prearranged chapter 11 restructuring of AppHarvest Products, LLC and certain of its affiliates.
Mastronardi Produce Limited is a leading greenhouse grower and marketer of gourmet fruits and vegetables in North America. Mastronardi grows and markets nationally recognized products under the SUNSET brand, including Campari, Flavor Bombs and Angel Sweet tomatoes.
Equilibrium Capital is a leading sustainability-driven asset management firm that develops sustainable finance and active environmental, social and governance (ESG) strategies in sustainable food and agriculture and carbon transition infrastructure.
The Davis Polk real estate team included partner Brian D. Hirsch, counsel Lawrence R. Plotkin and associate Edward Peck. Partner Eli J. Vonnegut, counsel Jonah A. Peppiatt and associates Hailey W. Klabo and Ethan Stern provided restructuring advice. The corporate team included partner Leonard Kreynin and counsel Daisy Wu. Partner Adam Kaminsky provided executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.