Six law firms guide Bacardi asset sale in Chile and Uruguay

Bacardi sold its subsidiaries in Chile and Uruguay, instructing Carey, Guyer & Regules and Brons & Salas. The buyers, Cepas, took counsel from CMS, Jiménez de Aréchaga and Abeledo Gottheil. 

Bacardi is the largest privately held, family-owned spirits company in the world. Founded in 1862 in Santiago de Cuba, it is now headquartered in Hamilton, Bermuda and has no operations in Cuba. The company owns over 200 brands and has sales in over 150 countries.

Cepas Group produces and distributes both alcoholic and nonalcoholic beverages. It was founded in 1934 in Argentina and has sales in Spain, Chile, Canada, Korea, Colombia, Mexico, the United States, Italy, Israel, South Africa, Japan, Australia.

With this deal, which value was not disclosed, Cepas purchased all of the issued and outstanding capital stock held by Bacardi in its Chilean and Uruguayan subsidiaries. In addition, it took control on the industrial plants that produce and distribute Bacardi’s products throughout South America. Cepas will now be Bacardi’s exclusive distributor and co-packer of its products in Chile and Uruguay.

Partners Alfonso Silva, Jessica Power and Jorge Ugarte led the Carey team advising Bacardi in Chile. The company instructed Guyer & Regules in Uruguay, with partners Nicolás Piaggio and Corina Bove in leading roles. In Argentina, Bacardi instructed a team at Brons & Salas fronted by partner Leandro Caceres. 

Cepas retained Abeledo Gottheil in Argentina, CMS Carey & Allende in Chile and Jiménez de Aréchaga in Uruguay.

Ignacio Abella