PPU counsels Grupo Hame on share acquisition in Agrokasa and Agrícola Drokasa

Multiple firms in cross-border berry business buy

Philippi Prietocarrizosa Ferrero DU & Uría, through its team in Peru, has advised Grupo Hame on the acquisition, through one of its subsidiaries, of 100% of the issued shares of Agrokasa Holdings and 12.5% of the issued shares of Sociedad Agrícola Drokasa (the remaining shares are owned by Agrokasa Holdings) and its subsidiaries, Agrícola Los Andenes, Agrícola Los Andenes II and Agrícola Los Andenes III.

The Transaction also involved the acquisition by Grupo Hame of 100% of the membership of Pacific Produce, a company subject to the laws of the State of Maryland and dedicated to the export of the products produced by Agrokasa Holdings and its subsidiaries.

Accordingly, the transaction, signed on 7 September and closed on 11 September, involved the jurisdictions of Peru and the US (New York). Estudio Muñiz and Paul Hastings advised the sellers, former shareholders of the acquired companies; KPMG, from its Peruvian and US offices, advised on tax and labour due diligence matters; Greenberg Traurig acted as counsel to Grupo Hame on due diligence matters related to Pacific Produce; Canovas Law advised Grupo Hame in connection with matters and documents subject to New York law; and Consortium Legal also advised Grupo Hame with respect to matters and documents of the transaction to be executed in Guatemala and/or Maryland.

PPU’s advice involved working closely with co-counsel in the region, under challenging deadlines and reviewing and commenting on complex cross-border documents subject to New York or Peruvian law, such as the share purchase agreement, the share purchase agreement and other ancillary transaction documents (escrow agreement, among others).

Agrokasa is one of Peru’s largest producers/exporters of avocados, grapes, blueberries and asparagus.

Estudio Muñiz’s team consisted of partners Mauricio Olaya and Juan Carlos Vélez, together with senior associate Diego Muñiz.

Paul Hastings’ team included partner Robert Leung, senior associate Vincent Buehler and associate Celina Hong.

KPMG Peru’s team comprised managers Marcia Yep and Juan Carlos Arana.

Greenberg Traurig’s team was composed of partners Steven Sandretto and Kelly D. Bunting.

Canovas Law’s team participated through partner María Luisa Canovas.

Consortium Legal was represented by partner Sofía Escriba.

PPU’s team was led by partners Guillermo Ferrero (pictured left) and Antonio Guarniz (pictured right), with support from senior associate Victor Abad, and associates Jacqueline Febres and Víctor Bravo.


The Latinamerican Lawyer