Partners Group’s Acquisition of 53.69% Interest in Hortigil Hortifruti

Pinheiro Neto, Fialho Salles and Loyola Advogados advised on the deal

Partners Group, the global private markets investment manager, has agreed to acquire a significant minority stake in Brazil’s market-leading health food retailer Hortifruti (the “Company”) on behalf of its clients.

Founded in 1989, Hortifruti is Brazil’s number one premium retailer of health foods including fruit and vegetables, dairy products, groceries and meats, with products typically brought from the farm to the shelf within 24 hours. Hortifruti has 40 existing stores within the states of São Paulo, Rio de Janeiro and Espírito Santo, as well as a large logistical operation, and employs over 6’600 people to serve around 2 million customers per month. In 2014, Hortifruti generated over BRL 1 billion (approx. USD 255 million) in revenues.

Partners Group is acquiring the stake in Hortifruti from exiting local private equity firm Bozano Investimentos. Though Hortifruti’s founding partners will retain a majority shareholding in the Company following the transaction, Partners Group will be represented in the Board of Directors and has secured strong governance rights. The transaction is expected to close in Q1 2016 and is subject to antitrust approval. No financial terms are being disclosed.

Pinheiro Neto advised Partners Group with Álvaro Santos (Picture) and Beatriz Seixas.

Fialho Salles – Fialho Canabrava Andrade Salles Advogados advised HF Fundo de Investimento em Participações and HFPAR Participações Ltda with Alice Dourado.

Loyola Advogados advised the selling shareholders with Mariana Loyola.

Involved fees earner: Mariana Loyola – Loyola Advogados; Alice Dourado – Fialho Salles; Alvaro Silas Uliani Martins dos Santos – Pinheiro Neto; Beatriz Ferreira da Rosa Seixas – Pinheiro Neto;

Law Firms: Loyola Advogados; Fialho Salles; Pinheiro Neto;

Clients: Partners Group; HF Fundo de Investimento em Participações; HFPAR Participações Ltda;

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Author: Ambrogio Visconti.