General Corporate – Mergers & Acquisitions
Bruchou, Fernández Madero & Lombardi acted as legal counsel of Arcor S.A.I.C., the leading food company in Argentina, in the creation of a joint venture with Ingredion Inc., a leading global ingredients solutions company from United States, to be specialized in ingredients for the food and beverage industry in Argentina, Chile and Uruguay. Baker & McKenzie advised Ingredion.
Arcor will transfer its ingredient operations to the joint venture, which includes one manufacturing facility in Lules (province of Tucumán) and two manufacturing facilities in the Industrial Complex Arroyito (province of Córdoba). While Ingredion will transfer its Argentina, Chile and Uruguay operations to the joint venture, which includes two manufacturing facilities in the districts of Chacabuco and Baradero (province of Buenos Aires).
Arcor and Ingredion will hold a 51% and 49% stake, respectively, and the joint venture will have a combined turnover of more than US$ 300 million.
The closing of the transaction is subject to regulatory approvals and customary closing conditions.