PAGBAM advised Molinos Río de la Plata S.A. (“Molinos”) in the acquisition of 100% of the share capital of La Salteña S.A. (“La Salteña”). The sellers were General Mills Canada Holding Three Corporation, General Mills International Businesses, Inc., and General Mills Argentina L.S. L.L.C.
La Salteña is a top marketer of fresh pasta and high quality refrigerated dough used in traditional Argentinean baked goods, while Molinos is one of the strongest local companies in the Argentinian food industry. This acquisition means for Molinos the entrance to the businesses of refrigerated tapas for empanadas and tartas and of fresh pasta.
The transaction required intensive planning, substantial due diligence, the drafting of a non-binding offer, and a heavily negotiated share purchase agreement, among other transaction documents.
The value of the deal, which was signed on January 15, 2019 and closed on January 28, 2019, was not disclosed by the parties.
Legal Advisers:
For Molinos:
Pérez Alati, Grondona, Benites & Arntsen:
Partners Eugenio Aramburu, Luis D. Barry and Enrique Betemps, Counselors Tomás Perez Alati and Pedro Menendez San Martin and associates Estefanía Balduzzi, Victoria Diez and Max Ungerer.
In-house:
Ana Carina Turco Grecco, Sofía Fernandez Quiroga and Victoria Valenti
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