In an act of reaffirming its interest in the beer market, Viña Concha y Toro bought another 28% stake in the Kross brewery, with which it has 77% of the company’s control of craft beers.
Bofill Mir & Álvarez Jana and Uribe, Hübner & Canales advised on this deal.
Vina Concha Y Toro S.A. produces wines in Chile and Argentina. The Company, led by Eduardo Guilisasti Gana, Eduardo Guilisasti Gana and Andres Larrain Santa Maria, owns and operates vineyards, vinification plants, bottling plants, and a wine distribution network.
Bofill Mir & Álvarez Jana Abogados (BMAJ) advised the selling shareholders, which were: Inversiones Galilea, José Tomás Infante, Asbjorn Gerlach and Inversiones Infante Ossa Limitada, alongside Alejandro Álvarez, Joaquín Recart and Matías Gruzmacher.
Uribe, Hübner & Canales had advised Viña Concha y Toro S.A. with Luis Felipe Hübner.
Interview with Luis Felipe Hübner at Uribe, Hübner & Canales
Please tell me about your involvement in the deal?
As a matter of fact, as legal advisers of Concha y Toro, we have been involved with Kross since 2011, when Concha y Toro acquired a 49% of the company. 2011 was the year in which this joint venture began, and it was very successful.
The 2017 transaction was very important because Concha y Toro increased its participation to 77%, therefore acquiring the control of the company.
Why is this a good deal for all involved?
This is a good deal for all, for many reasons. All the parties have been acquaintances for years; the sellers have very good knowledge of the products; Concha y Toro has a great distribution network, and all shareholders are full of ideas and projects for mutual benefit. Some of them have recently been published by the press in interviews to the general manager.
What challenges arose? How did you navigate them?
As usual, the challenges involved were helping the parties to reach the agreements, from the Memorandum Of Understanding signed on 2017, to the final Stock Purchase Agreement together with a renovated Shareholders Agreement, adapted to the new shareholders structure.