TozziniFreire acts for AiQFome in buyout by Magazine Luiza
Brazilian law firm TozziniFreire has advised local food home delivery startup AiQFome on its buyout by retail chain Magazine Luiza
Magazine Luiza, also known as Magalu, is one of Brazil’s largest retail chains.
The transaction is Magazine Luiza’s largest since its acquisition of Netshoes in May 2019 and is part of the company’s move into online commerce.
The acquisition of the startup is part of Magazine Luiza’s aggressive growth strategy, having seen online sales surge during the pandemic.
The company’s chief executive Frederico Trajano was quoted by Reuters as saying in August that it is open to “all kinds” of acquisitions including supermarkets.
In August the company acquired online payments startup Stoq Tecnologia.
TozziniFreire’s team advising AiQFome was led by partners Maria Medeiros Bofill (pictured) and Vivian Fraga, with associates Daniel Born Roman, Bruna Braga Luz Oliveira and João Paulo Salviano Almeida.
Magazine Luiza was advised by Lefosse Advogados, with a team comprising partner Luís Octávio Lopes and associates Júlio Queiroz, Mariana Mayumi Okada and Laís Sousa.
