Cleary represents FEMSA in merger of Envoy and BradyIFS
Cleary Gottlieb has represented Fomento Económico Mexicano (FEMSA), in signing a definitive agreement with BradyIFS, in a cash and stock transaction to merge Envoy Solutions and BradyIFS.
This transaction was announced on 29 August and, upon closing, FEMSA will receive approximately $1.7 billion in cash and retain approximately 37% ownership of the combined entity, which is expected to have pro forma revenues of approximately $5 billion. Kelso & Company (the current owner of BradyIFS), funds managed by Warburg Pincus and the existing minority shareholders of Envoy Solutions will own the remaining interest in the combined entity.
As a result of the deal, Envoy Solutions and BradyIFS will combine their strengths and complementary footprints to create a strong customer-centric platform to effectively provide their customers with high-value solutions, and their supply partners with excellent market reach, offering more products and solutions in more locations across the United States.
FEMSA is a Mexican company that participates in the logistics and distribution industry by providing point-of-sale refrigeration and plastics solutions to its business units and third-party customers; in the retail industry through the operation of OXXO, a chain of small-format shops, and other convenience and foodvenience formats; and in the beverage industry through Coca-Cola FEMSA, the world’s largest franchised bottler of Coca-Cola products by volume.
Cleary’s team was led by partners Duane McLaughlin (pictured left) and John Kupiec (pictured right) and includes M&A associates Isa Julson Barahona, Luke Anderson, David Friedman, Lukasz Swiderski, Yuan He, Marvellous Iheukwumere, Tamrin Ballon, Isabella Dominguez, and law clerks Mingqian Ding and Katherine Hebb, with assistance from associate Claire Schupmann. Partners Brian Byrne and Elaine Ewing and associates Blair Kuykendall, Urjita Sudula, and Andrew Schaengold are advising on antitrust matters. Partner Bill McRae and associates Kylie Barza and Jesse Hong are advising on tax matters. Partner Audry Casusol, and associates Emily Barry, and Michael Gao are advising on executive compensation and benefits matter. Partner Daniel Ilan and associates Natalie Curry and Amy Garland are advising on IP and data privacy matters. Partner Duane McLaughlin and associate Eric Olson are advising on finance matters. Partner Steven Wilner, senior attorney Joshua Panas, senior real estate staff attorney David Groman, and real estate resource lawyer Jacqueline Debs are advising on real estate matters. Counsel Beau Sterling and associate Madison Bush are advising on environmental, health, and safety matters. Senior attorney Jim Corsiglia is advising on anti-corruption matters.
