Leading global law firm Baker McKenzie has advised Ingredion Incorporated, a leading company in ingredient solutions for the food & beverage industry, in a joint venture with Grupo Arcor. This alliance, which comprises an estimated annual turnover of more than USD 300 million, is to leverage the two companies’ manufacturing expertise, complementary geographic footprints and commercial capabilities to broaden food and beverage ingredient offerings to customers in Argentina, Chile and Uruguay.
The team was led by partners Gustavo Boruchowicz, Francisco Fernández Rostello, Martín Roth, with the participation of Geraldine Mirelman, Santiago Maqueda, Felipe Graham, Juan Pablo Menna, and associates Candelaria Munilla, Cecilia Máspero, Juana Allende and Yanina Odriozola.
Gustavo Boruchowicz said, "It has been a privilege working with and for Ingredion Inc. in such an important deal during these global challenging times. The complexity of the transaction resulted in a great opportunity for our team to evidence its "ahead of the curve" legal and business knowledge."
Fernández Rostello added, "The transaction undoubtedly represents one of the most important deals of the year, taking into account different factors, such as the importance of the parties involved, the value of the businesses being combined, the complexity of the transaction structure, the transnational scope of the project (including Chile and Uruguay), the impact it will have on the regional food and ingredients market, and the relevance of a joint venture that will boost the businesses of both parties."
In addition, Martín Roth said, "Having advised Ingredion Inc. in such a strategic transaction clearly evidences our legal and business oriented capabilities and reach at a local and regional level. The deal required an engineering legal analysis and a holistic legal and business view when drafting and negotiating +40 documents involved in the transaction. Many thanks to our good client Ingredion for its trust, and to our team members for such an outstanding commitment and hard job."
The joint venture has been approved by the board of directors of each business and will be dealt with by a team made up of executives from both companies, who will be responsible for integrating the joint operations of production, commercialization and sale of ingredients for the various industries in the abovementioned countries.