DLA Piper advises Phatisa on buyout of Deltamune
DLA Piper has advised Phatisa, a leading African development and private equity fund manager, on the acquisition of 100% of South African-based biotechnology company Deltamune from HL Hall & Sons Investments.
Deltamune develops and manufactures vaccines used in production animals for the food market – particularly poultry. They recently expanded their vaccination range to address the ruminant market (cattle, sheep, etc).
Phatisa made the investment into Deltamune from its second food fund - Phatisa Food Fund 2 (the Fund). The Fund has over USD140 million in committed capital and seeks investments across the African food value chain – whilst balancing commercial returns with impact objectives. It is anticipated that this buyout and capital injection will enable Deltamune’s continued innovation and growth into both production animal verticals and enable geographic expansion into the sub-continent.
The DLA Piper team was led by Peter Bradshaw (corporate location head and director) and supported by Rakhee Singh (senior associate, corporate), Brian Malcomess (senior associate, corporate), Monique Jefferson (director, employment), Werner Rysbergen (director, competition) and Benjamin Mbana (director, tax).