4 June 2024

PAGBAM advised on the sale of Black Bamboo Enterprises by Abax Global Capital to the Lequio Group

On May 28, 2024, the Lequio Group announced that it had acquired 100% ownership of the shares of Black Bamboo Enterprises S.A.U. (‘Black Bamboo’), the owner of a major meat packing plant located in Hughes, Santa Fe Province, Argentina. The seller of Black Bamboo was an entity controlled by Abax Global Capital (‘Abax’), a private equity fund based in Hong Kong. 

Black Bamboo has a long history in the Argentine meat industry dating back to 1968, located in a region with recognised cattle-raising capabilities. It has some 600 direct employees and more than 120 contracted parties; approximately 50% of the families living in Hughes depend directly from Black Bamboo.

Abax acquired Black Bamboo in 2016, and proceeded to add value to its assets by making significant investments in infrastructure expansion, processes and organisation, with its meat plant now having a slaughter capacity of 650 animals per day, with the potential for its expansion to 950 animals per day.

PAGBAM advised Abax and was led by Alan Arntsen together with Partners P. Eugenio Aramburu, Lautaro D. Ferro, Vanina Veiga, Geraldine Moffat, Facundo Fernández Santos and Andrés M. Galíndez, Counsel David Hinojosa, and associates Marcos Vieito, Juan Ignacio Dighero, Mora Mangiaterra Pizarro, Azul María Juárez Pereyra, Agustina Martínez Martin, María Florencia González Klebs and Julieta Stralla.

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