Cuatrecasas, Brigard Urrutia and PPU assist in Essity’s increase of its stake in Colombian group Familia
Cuatrecasas, Brigard Urrutia and Philippi Prietocarrizosa Ferrero DU & Uría have counselled in Essity’s increase of its stake in Colombian Familia group
The Dutch company Essity Group Holding, through its Swedish subsidiary Essity Hygiene and Health, has increased its stake in the Colombian manufacturer, with presence in Latin America and the Caribbean, Productos Familia. The company, which holds 50 % of the group’s shares and has been present in the group since 1985, bought 44 % of the shares, bringing its equity stake to 94 %.
This transaction was valued at 1,562.8 million US dollars (approximately 13 billion Swedish kronor), where the signing of the acquisition contract was advised by Cuatrecasas-Colombia, and will be carried out through a takeover bid (Tender Offer). The completion of the deal is expected in the second half of the year, once regulatory approvals are received.
Brigard Urrutia assisted the sellers, while Philippi Prietocarrizosa Ferrero DU & Uría – Colombia advised Leonis & Cia SCA, one of the selling shareholders, on the design and implementation of the corporate and tax structure of the transaction as well as the M&A process.
“With this acquisition we are building a stronger platform in Latin America to increase growth, profitability and efficiency, in addition to accelerating digital transformation,” Essity said in a statement. The company added that it will finance the purchase with debt for which it has committed credit lines.
Grupo Familia has been operating in Colombia for more than 60 years, and manufactures hygiene and grooming products and products for feminine care, incontinence, baby care, facial care and pet care, as well as the consumer tissue line under the Familia brand for personal care and institutional hygiene, in eight plants located in Colombia, Ecuador, Argentina and the Dominican Republic.
Cuatrecasas’ team consisted of partner Juan Felipe Vera Cardona (pictured top left) and associate Pablo Martínez. Brigard Urrutia’s team was formed by the partners Sergio Michelsen Jaramillo (pictured bottom left), Jaime Robledo Vásquez, Alejandro García de Brigard, Tomás Holguín Mora, associates Catalina Manga, Pablo Brando Espinosa, Nicolás Cardona, Paola Ordóñez and María Márquez Montoya, along with the intern Juanita Calderón Padilla. Finally, PPU’s team was led by managing partner Martín Acero Salazar (pictured right), assisted by associates Melissa Salazar, Andrea Concha and Aura Meza.
