Simplot and San Fili project to build a frozen potatoes production plant reachs the fiinancial close


Beccar Varela and Bruchou, Fernández Madero & Lombardi advised on the transaction

JR Simplot will invest around 100 million dollars to produce frozen pre-fried potatoes and flaked mashed potatoes in Argentina. The US multinational, in partnership with San Fili SA finalized the financing for a 400,000 square-meter plant to process about 140 tons of potatoes a year.

Financing for the project has been granted by Banco de Galicia y Buenos Aires S.A., HSBC Bank Argentina S.A., Banco de Inversión y Comercio Exterior S.A. and Banco de la Ciudad de Buenos Aires.

Once the plant is working at full capacity, Mendoza would become a leader in pre-fried potato production at the South American level, accounting for more than 50% of production.

According to estimates from the Ministry of Economy, supplying the plant requires a 30% increase in vegetable production in Mendoza and some 40 new producers.

J.R. Simplot Company engages in seed production, farming, fertilizer manufacturing, frozen-food processing, and food brands and distribution businesses. The company, led by William James Whitacre, Garrett Lofto, Amber Post, Fred Zerza and Klaas Hutter, is based in Boise (ID).

Beccar Varela advised Simplot Argentina S.R.L. and San Fili S.A. with Ramón Moyano (Picture) Pablo Torretta and Lucía Degano.

Bruchou, Fernández Madero & Lombardi advised the banks with Analía Battaglia, Andrés Chester, Emilio Díaz Reynolds and Belén Justiniano.

Involved fees earner: Analía Battaglia – Bruchou, Ferna?ndez Madero & Lombardi; Andrés Chester – Bruchou, Ferna?ndez Madero & Lombardi; Emilio Díaz Reynolds – Bruchou, Ferna?ndez Madero & Lombardi; Belén Justiniano – Bruchou, Ferna?ndez Madero & Lombardi; Ramón Moyano – Estudio Beccar Varela; Pablo Torretta – Estudio Beccar Varela; Lucía Degano – Estudio Beccar Varela;

Law Firms: Bruchou, Ferna?ndez Madero & Lombardi; Estudio Beccar Varela;

Clients: Banco de Galicia y Buenos Aires S.A.; Banco Ciudad de Buenos Aires; Banco de Inversión y Comercio Exterior S.A.; HSBC Bank Argentina S.A.; J.R. Simplot Company; San Fili S.A.;

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Author: Ambrogio Visconti.