Colombian consumer good company Grupo Familia -engaged in the manufacture of cleaning and personal care and hygiene products – bought 50 % of the shares of Productos Sancela in Peru and Bolivia for USD 37,8 million in order to take full control of the South American corporation.
Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados advised Grupo Familia, while Selafin, the seller, took legal advice from Rebaza, Alcázar & De Las Casas Abogados, along with a team of inhouse lawyers.
Grupo Familia and Selafin used to hold the same participating interest in Sancela, but the Colombian conglomerate decided to make an offer to take full control of the company and thus strengthen its presence in Peru and Bolivia.
Productos Sancela plays a leading role in Peru’s personal care and hygiene sector, as it owns important brands like Tena, a line of adult diapers and briefs, and Nosotras, a line of sanitary napkins and pads.
In Bolivia, Sancela plays a leading role in the women’s personal care product sector so, according to Reuters, this purchase will increase Grupo Familia’s potential income level and improve its performance in foreign markets. This conglomerate is present in more than 20 countries and owns several manufacturing plants in Ecuador, Argentina, Dominican Republic, and Colombia.
The Colombian newspaper Portafolio said that Familia is implementing a purchase strategy to strengthen its international presence and improve the profitability of its product portfolio.
With the full purchase of Sancela, Peru is becoming Grupo Familia’s third most important market, after Ecuador and, obviously, Colombia.
Source: LexLatin