Alicorp’s $490 Million Acquisition of Tecnología Aplicada S.A.


Miranda & Amado, Ferrere, Philippi Prietocarrizosa Ferrero DU & Uría, Posadas, Posadas & Vecino and Garrigues advised on the deal

Alicorp S.A.A. (Lima Stock Exchange: ALICORC1 and ALICORI1) a leading Peruvian CPG and B2B company, executed the acquisition of 100% of the shares of Tecnología Aplicada S.A. (“TASA”), which holds 99.856% of the common shares of Intradevco Industrial S.A.

Total consideration paid for the transaction amounted to $490.4 Million

Intradevco, along with its iconic brands Sapolio, Aval, and Dento, is a leading Home & Personal Care player within the Andean region. Intradevco’s Estimated Revenues and Adjusted EBITDA for full year 2018 reached USD 205mm and USD 37mm, respectively. Estimated Revenues and Adjusted EBITDA for full year 2019 are expected to reach USD 215mm and USD 41mm, respectively.

In order to finance the acquisition, Alicorp secured a $500 Million Syndicated loan from Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., The Bank of Nova Scotia, Citibank, N.A. and Bank of America.

The acquisition of Intradevco is in line with Alicorp’s Home & Personal Care business strategy of becoming the leading player within the Andean region.

Miranda & Amado advised Alicorp S.A.A. with a team including Luis Miranda Alzamora (Picture), Mariano Peró, Jessica Huamaní Huapaya, Magaly Varela, Isabel Balbín, María José Paredes Vereau and Ángela Zerga.

In Uruguay, Ferrere advised Alicorp S.A.A. with Martín Cerruti, Manuel Lecuona, Carlos Falco, Alejandro Pintos, Carolina Piacenza, Manuel Graña, María Paula Hualde and Josefina Sanguinetti.

Philippi Prietocarrizosa Ferrero DU & Uria advised Tecnología Aplicada S.A. with Rafael Boisset, Antonio Guarniz, Milagros Pastor, Raúl Vizcarra Castillo, Noelia Mariátegui, Alexa Adriazola and Victor Bravo.

Posadas, Posadas & Vecino advised Intradevco Industrial S.A. and selling shareholders with Tomás Gurméndez, Victoria Garabato and Valentina Rostán.

Garrigues advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., The Bank of Nova Scotia, Citibank, N.A. and Bank of America, N.A. with Oscar Arrús, José Chiarella, Diego Harman and Jorge Fuentes.

Involved fees earner: Martín Cerruti – Ferrere Attorneys; Carlos Falco – Ferrere Attorneys; Manuel Graña – Ferrere Attorneys; Manuel Lecuona – Ferrere Attorneys; Carolina Piacenza – Ferrere Attorneys; Alejandro Pintos – Ferrere Attorneys; Oscar Arrús – Garrigues; José Chiarella – Garrigues; Jorge Fuentes – Garrigues; Diego Harman – Garrigues; Isabel Balbin Risco – Miranda & Amado Abogados; Jessica Huamaní Huapaya – Miranda & Amado Abogados; Luis Miranda – Miranda & Amado Abogados; María Jose Paredes Vereau – Miranda & Amado Abogados; Mariano Peró – Miranda & Amado Abogados; Magaly Varela – Miranda & Amado Abogados; Ángela Zerga – Miranda & Amado Abogados; Alexa Adriazola – Philippi Prietocarrizosa Ferrero DU & Uría; Rafael Boisset – Philippi Prietocarrizosa Ferrero DU & Uría; Victor Bravo – Philippi Prietocarrizosa Ferrero DU & Uría; Antonio Guarniz – Philippi Prietocarrizosa Ferrero DU & Uría; Noelia Mariátegui – Philippi Prietocarrizosa Ferrero DU & Uría; Milagros Pastor Stumpf – Philippi Prietocarrizosa Ferrero DU & Uría; Raúl Vizcarra Castillo – Philippi Prietocarrizosa Ferrero DU & Uría; Victoria Garabato – Posadas, Posadas & Vecino; Tomás Gurméndez – Posadas, Posadas & Vecino; Valentina Rostán – Posadas, Posadas & Vecino;

Law Firms: Ferrere Attorneys; Garrigues; Miranda & Amado Abogados; Philippi Prietocarrizosa Ferrero DU & Uría; Posadas, Posadas & Vecino;

Clients: Alicorp S.A.A.; Bank of America; Citibank; Citigroup Global Markets Ltd; Intradevco Industrial S.A.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Scotiabank; Tecnología Aplicada S.A.;