General Atlantic’s Investment in Grupo Axo

Paul Weiss, Rifkind, Wharton & Garrison, Galicia Abogados, Creel, García-Cuéllar, Aiza y Enríquez, Mijares, Angoitia, Cortés y Fuentes and SMPS Legal advised on the deal

General Atlantic, a leading global growth equity firm, has agreed to make a strategic investment in Grupo Axo, a leading multi-brand retailer in Mexico. As part of this transaction, Alsea, a leading Mexican multi-brand restaurant operator, will be fully exiting its position in the Company. The transaction is subject to customary closing conditions and authorization by the Mexican Antitrust Commission.

Grupo Axo is one of the largest and fastest growing retailers in Mexico, operating over 500 retail points of sale and more than 3,100 wholesale points of sale in department stores. The Company owns the exclusive rights to commercialize more than 20 leading international brands in Mexico, under licensing agreements and joint ventures. Grupo Axo owns and operate Promoda, the leading off-price retailer in Mexico with 140 stores.

Grupo Axo intends to drive its next phase of growth by enhancing its retail footprint through its licensed brands, bringing more internationally prominent brands to the region, and continuing to expand its off-price business’s, Promoda’s, reach to consumers. In conjunction with General Atlantic’s investment, Luis Cervantes, Martin Escobari and Andrew Ferrer will be joining Grupo Axo’s Board of Directors. General Atlantic has deep regional expertise across Latin America, with current regional investments in Clip, Despagar.com, Ourofino, Pague Menos, SAS, Sanfer, and XP Investimentos.

Casa de Bolsa Credit Suisse (México), S.A. de C.V., Grupo Financiero Credit Suisse (México) acted as exclusive financial advisor to Grupo Axo.

Paul Weiss, Rifkind, Wharton & Garrison advised General Atlantic with Ellen Ching (Picture) and Matthew Abbott.

In Mexico, Galicia Abogados advised General Atlantic with Ignacio Pesqueira, Ricardo García and Agustín Quintanilla.

Creel, García-Cuéllar, Aiza y Enríquez advised Axo’s Sharesholders with Jean Michel Enríquez, Jorge Montaño, Humberto Botti and Luis Gerardo García.

Mijares, Angoitia, Cortés y Fuentes advised Grupo Axo S.A.P.I. DE C.V. with Ricardo Maldonado, Patrick Meshoulam, Pedro García and Victoria Dicktiar.

SMPS Legal advised Grupo Axo S.A.P.I. DE C.V. with Jorge San Martín and Federico Scheffler.

 

Involved fees earner: Ellen Ching – Paul Weiss Rifkind Wharton & Garrison; Matthew Abbott – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: General Atlantic;

 

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Author: Ambrogio Visconti