Brazil’s Grupo SBF has hired Baker McKenzie in Dallas and New York and Trench Rossi Watanabe* in São Paulo to buy sports retailer Nike’s Brazilian operations, in a deal worth 900 million reais (US$213 million).
Once approved by Brazil’s antitrust watchdog, the deal gives Grupo SBF’s subsidiary and retail brand Centauro the exclusive rights to distribute Nike’s products, both online and in stores, in Brazil for the next 10 years. The deal also includes Nike’s Brazilian inventory and stores, but no intellectual property rights.
The agreement requires SBF to make a 900 million reais (US$213 million) investment in the purchased assets.
Centuaro’s shares rose by more than 10% following the deal. The company made its stock exchange debut on São Paulo’s B3 in 2019. Its initial public offering raised 772 million reais (US$191 million). Trench Rossi was involved it that deal too, advising Grupo SBF and Centauro.
The Baker McKenzie team advising SBF included Partner Kevin Maher and associate Raja Chatterjee in Dallas, and partner Steven Canner in New York. Trench Rossi Watanabe
Partners Daniel de Miranda Facó and Felipe Calil, and associate Paula Ganem in São Paulo also assisted.
* Trench Rossi Watanabe, a Brazilian law firm in cooperation agreement with Baker McKenzie