BlackBox, Sumara HUB and PRCP advise on Jüsto’s acquisition of Freshmart

BlackBox Startup Law, Sumara HUB Legal and Payet Rey Cauvi Pérez Abogados have assisted in the acquisition of Freshmart by digital supermarket Jüsto

 BlackBox Startup Law, in conjunction with Sumara HUB Legal, has advised Jüsto on its acquisition of 100% of Freshmart’s shareholding. This transaction, closed on 12 October, also involved Payet Rey Cauvi Pérez Abogados, acting as counsel to Freshmart.

This acquisition comes along with Jüsto’s expansion into Brazil where the supermarket invested approximately $40,000,000 US dollars to enter the market with its own brand. Meanwhile, in Peru, the company decided to acquire Freshmart, the local leader in the same segment. Freshmart, the acquired company, has been operating for 5 years and has proven to be a strategic ally for Jüsto, which is currently positioned as the leading online retail startup in Latin America.

Thanks to this transaction, it is estimated that Jüsto will increase its operations more than 10 times over the next three years, with the help of Freshmart’s infrastructure and presence in Peru and its expansion throughout Latin America.

This transaction marks Jüsto’s first acquisition of another company in Latin America and it is expected that the startup will be actively pursuing such transactions in the coming years, seeking to enter Chile and Colombia with the same strength it has been demonstrating in Mexico, Brazil and Peru.

With this acquisition, Jüsto expands its operation to Lima, which joins the city of Sao Paulo in Brazil, and the Mexican cities of Querétaro, Mexico City, Guadalajara and soon, Monterrey. Colombia and Chile are expected to be the next countries to be served by this platform.

Jüsto is a completely digital supermarket, from which users can shop for products belonging to the main categories of a traditional supermarket, such as fruit, vegetables, groceries, household cleaning, personal care, among others. The delivery of the order is made the same day of purchase or can be planned up to 30 days in advance.

Freshmart, founded in 2016, is a digital supermarket operating in the city of Lima with a stock of 8,000 products and has a differential over its competitors in the fresh produce sector. The company will continue to operate under the same name.

BlackBox’s team was led by the partner Victor Aguirre López (pictured top left), with the support of the associate Héctor Camacho Portillo.

Sumara HUB’s team was composed by partners Juan José Hopkins (pictured bottom left), Gabriela Cuadros (pictured top right) and Álvaro Castro Lora (pictured bottom right).

PRCP’s team was composed of partners José Cúneo Galdós and Renato Velázquez Peláez.