Patria Investments Limited Announces Portfolio Company Lavoro to Become Publicly Traded Through Business Combination with The Production Board’s Special Purpose Acquisition Company

GRAND CAYMAN, Cayman Islands, Sept. 15, 2022 (GLOBE NEWSWIRE) — Patria Investments Limited (“Patria”) (NASDAQ:PAX), a global alternative asset manager, announced that portfolio company Lavoro Limited (“Lavoro”) has entered into a definitive business combination agreement with TPB Acquisition Corporation I (“TPB Acquisition Corp.”), a special purpose acquisition company sponsored by The Production Board, which will result in Lavoro becoming the first US-listed pure-play Latin American agricultural inputs retailer. The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions (including the approval of the shareholders of TPB Acquisition Corp.).

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