Firm acts on major agribusiness deal

One firm has acted on the major investment into Sundrop Farms, the world’s first solar desalination farm

Firm acts on major agribusiness deal
King & Wood Mallesons has advised global investment firm KKR on its investment in Sundrop Farms, which will enable the company to develop $200m world-first solar desalination farm.

It’s a state-of-the-art greenhouse facility in Port Augusta, expected to produce 15 million kilos of pest-free vegetables, carbon neutral and fresh water neutral.

“Sundrop is a remarkable business with unique proprietary technology developed to address the water and food security issues typical to arid regions,” said lead partner on the deal Lee Horan.

“We are delighted to have advised KKR on this truly significant and unique investment in the Australian agriculture sector.”

Sundrop supplies 16,000 tonnes of tomatoes to Coles annually, operating sustainable farms utilising a unique technology without the reliance on fossil fuels but saltwater and sunlight as inputs.  With plans to open up greenhouses in Portugal and the United States, Sundrop is looking to roll out its technology globally.

“The transaction touches on a number of strategic areas for King & Wood Mallesons, allowing us to demonstrate the depth of our private equity, agribusiness and project financing capability in and around the region,” Horan said.

“As Sundrop embarks on its next phase we look forward to working with its management team and KKR as they pursue their objective of making Port Augusta a hub of agricultural innovation and as they expand the business into countries with similar environmental conditions.”

The King & Wood Mallesons team included Mark McNamara, Yuen-Yee Cho, Claire Rogers and James Forrest supported by corporate associates Cathy Chan and Alex Elser, banking associates Chris Allfrey and Charlie Detmold and construction associate Neveen Ayad.

Recent articles & video

Clifford Chance penetrates global energy hub with Houston office

Homegrown star becomes Pragma Lawyers' youngest director

Administrative Appeals Tribunal welcomes new deputy presidents and 34 reappointments

Last chance to be recognised as a top legal employer in Australia

US appeals judge: There's no need to be offended by the word 'alien'

Clayton Utz forensic tech director: Generative AI is beginning to understand the law itself

Most Read Articles

It's 'the year of the raise' for the legal industry: Hays Salary Guide

2023 Australasian Law Awards thanks this year's esteemed panel of judges

Ashurst lures DLA Piper’s former global co-chair of tech transactions and strategic sourcing

Clayton Utz forensic tech director: Generative AI is beginning to understand the law itself