Slaughter and May is advising Virgin Group on Virgin Active’s capital raise and acquisition of the nutrition assets of South Africa’s Real Foods Group (“Real Foods”). The investors include Brait and Virgin Group as existing shareholders of Virgin Active, as well as certain members of the investor consortium of Real Foods. The acquisition is subject to certain conditions precedent, including regulatory approvals and is anticipated to be implemented in the second quarter of this year. Upon implementation, the Real Foods nutrition assets will be combined with Virgin Active to create an amalgamated wellness group with a complete health offering.
The Slaughter and May team has worked closely throughout with members of Virgin Group’s in-house legal team.