Lane Powell Represents Laughing Planet in the Sale of its Business
Lane Powell client Laughing Planet was recently sold to a limited liability company formed to operate the business, which will retain its name. Lane Powell attorneys Scott Davidson and Annie Lee represented Laughing Planet in the transaction. The company is known for its quirky eateries, which serve locally sourced burritos and bowls. Laughing Planet’s founder, Richard Satnick, initially formed Laughing Planet in Indiana in 1995, before moving the company to Portland five years later. The group that purchased Laughing Planet includes Franz Spielvogel, who has been employed with the company nine years. Satnick said Spielvogel was one of his oldest friends, and he described the transaction as a “family succession.” With the recent purchase of Laughing Planet, Spielvoegel hopes to expand and open another four or five cafés in Portland in the immediate future.