Cleary Gottlieb represented The Rise Fund, a social impact investment fund managed by TPG Growth, in its investment in Pearl Dairy, for a minority stake of approximately 33.5% of the share capital of the company.
The transaction signed on May 29, 2019, and completed on October 30, 2019.
Pearl Dairy is a leading East African dairy company that is based in Uganda and manufactures and sells dairy products, working with more than 10,000 smallholder farmers. Under its brand LATO, Pearl Dairy sells dairy products in Kenya, Uganda, Burundi, South Sudan, Madagascar, Malawi, Rwanda, Tanzania, Democratic Republic of Congo, Egypt, and Japan.