Safeway instructs Jones Day on sale of Mexican business
Jones Day advised US retailer Safeway on the sale of a 49% stake in Casa Ley, a Mexican grocery store chain.
Safeway is a US supermarket chain headquartered in California. It is a subsidiary of Albertsons, North America’s second largest supermarket chain, since 2015.
Casa Ley is Mexico’s largest privately held supermarket chain with most of its stores througout the western side of the country. The company is headquartered in Culiacán, Sinaloa.
With this transaction, valued at approximately $348.5 million, Albertsons is selling the stake to the 51% shareholders, members of the Ley family which founded Casa Ley in 1953.
Jones Day lawyers in Mexico City and San Francisco advised Safeway. Rick Maggio, who is of counsel, led the team which also included partners Gabriel Altamirano and Rodrigo Gómez.
It is understood that Latham & Watkins advised the former Safeway shareholders while Bufete Robles Miaja provided Mexican counsel to the purchasers and Casa Ley.
