MoFo Advises Revolution Foods on Financing and Conversion to Public Benefit Corporation

Morrison & Foerster advised Revolution Foods, a company transforming citywide wellness by providing healthy, culturally relevant, and affordable meals for school and community feeding programs across the U.S., on its conversion to a Delaware Public Benefit Corporation (PBC), codifying its commitment to operating sustainably and generating social impact through its ongoing operations.

Revolution Foods became a Certified B Corp in 2009. Now as a PBC, the company continues its work as a for-profit company while deepening its social mission of large-scale food systems change through higher standards of purpose, transparency, and accountability.

MoFo also advised on Revolution Foods’ $60 million funding round, which will allow the company to continue its mission of building lifelong healthy eaters and providing greater access to nutritious foods. The funding will also further enable significant investment in systems, production infrastructure, and innovation to serve more communities in need.

With school meals at its foundation, Revolution Foods has long been dedicated to creating meals that meet or exceed nutrition and ingredient standards set by the federal government and making its products accessible throughout the U.S., including in low-income communities. Widespread distribution of healthy meals is even more critical as the COVID-19 pandemic continues to exacerbate food insecurity for vulnerable populations, and Revolution Foods has expanded its ability to serve communities in need throughout the pandemic.

The MoFo deal team was led by San Francisco corporate partner Suz Mac Cormac, together with partner Alfredo Silva and associates Kate Tyler and Olga Terets. The team also included San Francisco finance of counsel Victor Liang and associates Mara Alioto and Julietta Rose.

Read more about the transaction in Revolution Foods’ press release.