Cencosud’s Acquisition Of The Fresh Market

Simpson Thacher represented The Fresh Market Holdings on the deal while Milbank LLP advised Cencosud.

The Fresh Market Holdings, Inc. (“The Fresh Market”) and its controlling shareholders, investment funds managed by an affiliate of Apollo Global Management, Inc., announced the sale of a 67% stake to Cencosud (BCS: CENCOSUD). The transaction values The Fresh Market at an enterprise value of $1.568 billion.

The Fresh Market is a premium specialty grocer offering a variety of high-quality fresh products and a curated in-store meal offering. Cencosud is a leading South American retailer with operations in Chile, Argentina, Brazil, Peru and Colombia.

The Simpson Thacher team included Gregory Klein (Picture), Michael Kaplan, Mark Myott, Kristin Rulison, Koh Tanimoto, John Meadows, Gabriel Chun, Lola Tang, Christian Segar, Jamie Lee and Mathew Walls (M&A); Russell Light and Scott Grundei (Tax); Tristan Brown, Harry N. Hudesman and Brian Chung (ECEB); Jennifer Hobbs, Christopher Brown and Benjamin Persina (Banking & Credit); Ryan Bekkerus (Capital Markets); Peter Guryan and James Goldfeier (Antitrust); Jessica Cohen and Kate Mirino (Intellectual Property & Cybersecurity); Krista McManus and Stephanie Kantor (Real Estate); and Toby Chun and Timothy Mulvihill (Environmental).

The Milbank deal team was led by Global Corporate partners Francisco Nuñez and Neil Whoriskey, Global Capital Markets partner Marcelo Mottesi and Global Corporate associate Bianca Prikazsky.  The team also included Global Corporate special counsel John Garces, associates Zachary Young and Jinney Chung and international attorney Manuel Dominguez,  Global Capital partner Jonathan Jackson and associate Lisa Angeles, Real Estate partner Erwin Dweck and associate Kevin Mu, Tax partner Max Goodman and associate Benjamin Heller, Executive Compensation partner Mike Shah and special counsel James Beebe, and Antitrust partner Fiona Schaeffer and special counsel Andrew Wellin.

Involved fees earner: James Beebe – Milbank LLP; Jinney Chung – Milbank LLP; Erwin Dweck – Milbank LLP; John Garces – Milbank LLP; Max Goodman – Milbank LLP; Benjamin Heller – Milbank LLP; Jonathan Jackson – Milbank LLP; Marcelo Mottesi – Milbank LLP; Kevin Mu – Milbank LLP; Francisco Nuñez – Milbank LLP; Bianca Prikazsky – Milbank LLP; Fiona Schaeffer – Milbank LLP; Mike Shah – Milbank LLP; Andrew Wellin – Milbank LLP; Neil Whoriskey – Milbank LLP; Zachary Young – Milbank LLP; Ryan Bekkerus – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; Christopher Brown – Simpson Thacher & Bartlett; Gabriel Chun – Simpson Thacher & Bartlett; Toby Chun – Simpson Thacher & Bartlett; Brian Chung – Simpson Thacher & Bartlett; Jessica Cohen – Simpson Thacher & Bartlett; James Goldfeier – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Jennifer Hobbs – Simpson Thacher & Bartlett; Harry Hudesman – Simpson Thacher & Bartlett; Stephanie Kantor – Simpson Thacher & Bartlett; Michael Kaplan – Simpson Thacher & Bartlett; Gregory Klein – Simpson Thacher & Bartlett; Jamie Lee – Simpson Thacher & Bartlett; Russell Light – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; John Meadows – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Mark Myott – Simpson Thacher & Bartlett; Benjamin Persina – Simpson Thacher & Bartlett; Kristin Rulison – Simpson Thacher & Bartlett; Lola Yuanyuan Tang – Simpson Thacher & Bartlett; Koh Tanimoto – Simpson Thacher & Bartlett; Matthew Walls – Simpson Thacher & Bartlett;

Law Firms: Milbank LLP; Simpson Thacher & Bartlett;

Clients: Cencosud S.A.; The Fresh Market, Inc.;

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Author: Youness Semri