DSK Legal Advised Gemini Edibles And Fats India Limited And GEF Foods India Private Limited On Joint Venture With Sree Annapoorna Foods

DSK Legal advised Gemini Edibles and Fats India Limited and GEF Foods India Private Limited on Joint Venture with Sree Annapoorna Foods

DSK Legal advised and assisted Gemini Edibles and Fats India Limited ("Gemini") and its wholly owned subsidiary GEF Foods India Private Limited ("GEF Foods") in relation to the setting up of a joint venture with Sree Annapoorna Foods, based in Coimbatore, Tamil Nadu.

Gemini is a leading producer of sunflower oil, other edible oils, and speciality fats, while Sree Annapoorna Foods is engaged in the manufacturing, processing, and supply of pure spice powders, spice blends, and ready-to-eat food items.

As part of the transaction, GEF Foods was established as the joint venture entity with Gemini holding 70% and the partners of Sree Annapoorna Foods holding 30% shareholding. GEF Foods acquired the business undertaking of Sree Annapoorna Foods related to spice manufacturing and processing, including the right to use the 'Annapoorna' brand name for spices and certain product categories, as a going concern on a slump sale basis.

DSK Legal’s scope of work included:

(i) conducting limited legal due diligence on Sree Annapoorna Foods;

(ii) structuring the transaction;

(iii) drafting, reviewing, revising, negotiating, and finalizing the business transfer agreement, share subscription agreement, shareholders’ agreement, IP assignment deed, and related transaction documents; and

(iv) assisting with the closing of the transaction.

The DSK Legal team was led by Jayesh Kothari (Partner), with support from Rajlaxmi Kale (Principal Associate) and Aasil Singh (Associate).

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