Milbank LLP is providing legal counsel to Gloria Foods, part of Grupo Gloria, as it acquires an 80% stake in the Dairy Division (Argentina) of Saputo Inc. The deal includes two manufacturing plants located in Cordoba and Santa Fe provinces, as well as several Argentine dairy brands such as La Paulina, Ricrem, and Molfino. Saputo is recognized as Argentina’s leading dairy processor.
The completion of this transaction is contingent upon customary closing conditions, including regulatory approvals. Milbank is also advising Gloria Foods on securing a senior term loan facility to finance the acquisition.
A representative from Milbank stated: “This transaction highlights the trust our clients place in Milbank to advise them on some of the region’s most sophisticated and high-profile transactions and the firm’s long-standing commitment to Latin America.”
Another partner at Milbank added: “We are proud to be advising Gloria Foods on this landmark transaction, which underscores Milbank’s market-leading capabilities advising on complex, high-value M&A transactions across Latin America.”
The legal team for Milbank was led by partners Marcelo Mottesi and Francisco Nuñez, along with special counsel and associates from various offices.