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Penningtons Manches Cooper acts for finnCap on IPO of Parsley Box Group plc

Posted: 31/03/2021

The corporate team at Penningtons Manches Cooper has advised finnCap in its role as Nominated Adviser and Broker to Parsley Box Group plc (AIM: MEAL) on its IPO on AIM, valuing Parsley Box at £83.8 million.

The admission of Parsley Box’s share capital to AIM has involved a £12 million sell down by existing shareholders and a primary raise of £5 million.

Parsley Box delivers ready meals that do not need to be stored in a fridge or freezer, direct to the underserved Baby Boomer consumer, broadly defined as those aged 60 and over. Its mission statement is to promote, support and celebrate independent living by making mealtimes easier and more enjoyable for everyone. It is intended that Parsley Box will use the proceeds from the primary raise to accelerate its growth plans through investment in marketing spend with the aim of becoming a household name in a currently underserved market.

London-based corporate partner Seb Orton led on this deal with assistance from associate Hannah Shamsolmaali.

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Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority.

Penningtons Manches Cooper LLP