Source: Latin Lawyer
Paraguayan conglomerate Grupo Vierci has enlisted Posadas in Montevideo to acquire a portfolio of Uruguayan pharmaceutical and retail brands from Argentine holding company Grupo de Narváez (GDN) and multilateral development bank IDB Invest.
GDN and IDB Invest called on Ferrere (Uruguay) for the deal, which closed on 27 February for a confidential amount.
Vierci acquired Uruguayan supermarket brand Ta-Ta, local pharmacy chain San Roque, fashion retailer BAS, home goods store MultiAhorro Hogar and wholesaler Frontoy through the deal.
The transaction comes amid continued cross-border deal activity in Latin America’s retail sector. Earlier this month, for example, international firm Skadden, Arps, Slate, Meagher & Flom LLP, Panama’s Alemán, Cordero, Galindo & Lee, Bustamante Fabara in Quito, Colombia’s Brigard Urrutia and Miranda & Amado in Lima helped Peruvian consumer goods company Alicorp acquire the Latin American operations of Dutch plant-based butter producer Flora Food Group, which enlisted Simpson Thacher & Bartlett LLP for the sale. Also in January, Cleary Gottlieb Steen & Hamilton LLP and Rodrigo in Lima assisted Levi Strauss on the US$311 million sale of its casualwear brand Dockers to Authentic Brands Group.
Counsel to Grupo Vierci
Posadas
Partners Tomás Gurméndez and Lucía Barrios, and associates Martina Reyes and Ana Claudia Hornos
Counsel to Grupo de Narváez and IDB Invest
In-house counsel to Grupo de Narváez – Diego Zaffore and Florencia Mesa
Ferrere (Uruguay)
Partner Geraldine Ifrán, counsel Cristina Vignone, and associates Clara Porro, Walter Planells, Carolina Piacenza, Cecilia Trujillo, Sofía Vidal, Ana Inés Martínez and Sebastián Valsecchi