Baker & McKenzie LLP
11/07/2024 | Press release | Distributed by Public on 11/07/2024 02:40
Baker Mckenzie Client AMMI Enters Into MXN 3,165M Acquisition Of FEMSA's Plastics Solutions Operations
Global law Firm Baker McKenzie announced that it advised AMMI, a Milenio Capital affiliate focused in the production of non-GMO corn and sustainable plastic packaging, in the acquisition of FEMSA's plastics solutions operations, for a total amount of MXN 3,165 million, on a cash-free, debt-free basis. The transaction is subject to regulatory approvals, and it is expected to close in the coming months.
AMMI is a business conglomerate with 59 years of expertise, focused in being the partner of choice for the largest players in the food and beverage industry, this acquisition solidifies the company's position in Mexico. The company operates Millfoods, the world's largest non-GMO corn production plant located in Mexico, with its products reaching 180 countries worldwide through important beer brands, among others. In Central America and the Caribbean, AMMI leads the production of crown caps and sustainable plastic packaging for the beverage industry through its companies PLIHSA Crown Caps and PLIHSA Plastic Injection, respectively. The holding has a strong focus in sustainability, with the goal of becoming carbon neutral by 2030.
The Baker McKenzie team that participated in the deal was led by partner Lorenzo Ruiz de Velasco (Mexico) and had the participation of Pedro Antonio Vázquez (Mexico) from the Transactional practice group. Baker McKenzie is a transactional powerhouse, with more than 2,500 deal lawyers in 45 jurisdictions offering pragmatic counsel in the areas most critical for clients. The Firm excels in complex transactions and cross-border deals; over 65% of the deals are multi-jurisdictional. The teams are a hybrid of 'local' and 'global', combining money-market sophistication with local excellence.
AMMI is a business conglomerate with 59 years of expertise, focused in being the partner of choice for the largest players in the food and beverage industry, this acquisition solidifies the company's position in Mexico. The company operates Millfoods, the world's largest non-GMO corn production plant located in Mexico, with its products reaching 180 countries worldwide through important beer brands, among others. In Central America and the Caribbean, AMMI leads the production of crown caps and sustainable plastic packaging for the beverage industry through its companies PLIHSA Crown Caps and PLIHSA Plastic Injection, respectively. The holding has a strong focus in sustainability, with the goal of becoming carbon neutral by 2030.
The Baker McKenzie team that participated in the deal was led by partner Lorenzo Ruiz de Velasco (Mexico) and had the participation of Pedro Antonio Vázquez (Mexico) from the Transactional practice group. Baker McKenzie is a transactional powerhouse, with more than 2,500 deal lawyers in 45 jurisdictions offering pragmatic counsel in the areas most critical for clients. The Firm excels in complex transactions and cross-border deals; over 65% of the deals are multi-jurisdictional. The teams are a hybrid of 'local' and 'global', combining money-market sophistication with local excellence.