Guatemala’s Hame grazes pastures new in Peru with agri buy

Guatemala’s Hame grazes pastures new in Peru with agri buy

US firm Greenberg Traurig LLP, Canovas Law PPLC in New York, Consortium Legal in Guatemala City and Philippi Prietocarrizosa Ferrero DU & Uría (Peru) in Lima have helped Guatemalan agribusiness Grupo Hame acquire Peruvian counterpart Agrokasa.

Paul Hastings LLP in New York and Muñiz, Olaya, Meléndez, Castro, Ono & Herrera in Lima advised the target in the deal, which closed on 11 September for an undisclosed amount.

Hame acquired 100% of Agrokasa’s shares from the target’s holding company. It also acquired a 12.5% stake in the target’s subsidiary Sociedad Agrícola Drokasa, which owns several of Agrokasa’s cultivation businesses.

In the same deal, Hame also acquired a 100% stake in South Florida company Pacific Produce, Agrokasa’s flagship exporter of its produce.

Marking its entry into Peru, Hame’s purchase of Agrokasa allows the company to expand its operations producing and distributing bananas, palm oil, and avocados.

Agribusiness transactions regularly take place in Peru. In March, Peruvian tomato producer Icatom secured a US$14 million loan to finance its operations. Muñiz was also involved on that occasion.

Founded in 1995 and headquartered in Lima, Agrokasa is considered one of Peru’s largest growers and exporters of avocados, grapes, blueberries, and asparagus. It has a notable presence in the coastal areas of Ica and Barranca.

Guatemala’s Grupo Hame began operating in 1952. It cultivates cotton, cooking oils, and banana produce. It is reputed as one of Latin America’s largest palm oil producers and one of the biggest independent banana producers in the world.

Counsel to Grupo Hame

Greenberg Traurig LLP

Shareholders Yosbel Ibarra, Scott Bakal,  Antonio Peña and Manuel Valcarel in Miami; shareholder Stephen Pepper in New York; shareholder Brian Witowski in Chicago; shareholder Kelly Dobbs Bunting in Philadelphia; and shareholder Rebecca Tracy Rotem in Washington, DC

Canovas Law PLLC

Partner María Luisa Canovas in New York

Consortium Legal (Guatemala)

Partner Sofía Escribá in Guatemala City

Phillipi Prietocarrizosa Ferrero DU & Uría (Peru)

Partners Guillermo Ferrero and Antonio Guarniz, and associates Victor Abad, Jacqueline Febres, and Victor Bravo in Lima

Counsel to Agrokasa, Agrokasa Holdings, Sociedad Agrícola Drokasa, Agrícola Los Andenes, Agrícola Los Andenes II, and Agrícola Los Andenes III

Paul Hastings LLP

Partner Robert Leung and Mike Huang, counsel Jason Hill, and associates Vincent Buehler, Celina Hong, and Gabriella Jassir in New York

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera

Partners Mauricio Olaya and Juan Carlos Vélez, and associate Diego Muñiz in Lima

Fuente:

Latin Lawyer

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