What are the most significant cases or transactions that your legal team has recently been involved in?

Puratos closed on a €1 bn sustainable financing through the issue of bonds to a group of US-based private investors. The financing will be used to further accelerate the Cacao-Trace programme founded by Puratos. Its scope is to help cocoa farmers increase their revenue thanks to the production of superior tasting chocolate, achieved by mastering the fermentation process.

After five years of discussions, we have recently completed the buy-out of a JV partner in three different jurisdictions— Colombia, Dominican Republic, and Ecuador – after 38 years of business relations. Additionally, we have established the group’s first strategic direct presence in the Middle East through the creation of a majority JV active in distribution and production in Lebanon, Jordan, Kuwait, Saudi-Arabia, Bahrain, UAE.

During the Covid-19 lockdown we were able to complete four strategic acquisitions — a Russian bakery specialized in sourdough, an EU specialist in edible seeds in the Netherlands, a probiotic producer in Belgium and a local manufacture of bakery ingredients in Czech Republic.

Furthermore, we created the group’s first joint venture in East and West Africa, specifically in Kenya, Ethiopia, Ivory Coast and Nigeria.

We have also been very active in the implementation of the group’s first equity programme for the leadership team, converting share option programmes into equity investment ones and turning cash outflow into cash inflow.

We have been involved in the creation of Sparkalis — the group’s start-up incubator, providing direct investment and scalable support to accelerate business growth for food-tech innovators. It requires a new legal approach — fast and agile, touching up the essentials of risk management.

How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

Remote working has been a success for in-house teams allowing for a more efficient use of time and effective online meetings. It has enhanced direct communication between the legal team and the business thanks to digital tools guaranteeing a more pro-active involvement in the matters of the company. Moreover, it has signified a shift to a more strategic focus for the legal team accelerating a push to more technology-enables processes.

What do you feel are the pros and cons of an in-house legal role compared to a private practice one?

The main pros involve being closer to the business and more knowledgeable about the requirements of the company, but also its mindset and culture. It allows to be part of the action and see long-term results.  Concerning the cons, I would say that in a law firm the entire organisation is designed around you, so you must ensure efficiency and productivity, while in-house you are not core business.