Paul Hastings LLP advised Quicorp SA, parent company of Química Suiza, and the largest private healthcare company in Peru in its acquisition by InRetail Perú, a leading multi-format retailer in Latin America.
InRetail Peru Corp, a leading multi-format retailer with interests in supermarkets, pharmacies and shopping malls in Peru, finalized the acquisition of Quicorp S.A. (“Quicorp”) for a total consideration of US$583 million
The transaction represents a unique opportunity for InRetail to further strengthen its operations in the pharma industry, boost its international expansion strategy, and continue bringing healthcare access to the Peruvian population.
The acquisition is being funded through a mix of (i) a bridge loan financing, and (ii) third-party equity. Aside from funding the acquisition, the bridge loan will be used to perform a liability management exercise at InRetail Consumer and Quicorp.
Founded in 1939, Quicorp is a leading pharmaceutical distributor and retailer in the Andean region. The company operates in the manufacturing, distribution, and retail pharma segments, and has presence in Peru, Ecuador, Bolivia and Colombia. Headquartered in Lima, Quicorp has over 11,000 employees and over S/ 4,000 million in annual sales. The company operates over 1,000 pharmacies in Peru and Bolivia, and has 12 distribution centers in three different countries with over 90,000m2 of storage space.
The Paul Hastings team was led by partner Robert Leung (Picture), and also included partner Mike Huang, of counsel Russell Franklin, associate Stephanie Rohlfs and foreign associate Nicolas Benvenuto.
Law Firms: Paul Hastings;
Clients: Quicorp S.A.;