Mesoamerica Buys Remaining Stake in Chile’s Unifood

Mesoamerica, a private equity investor in Latin America, acquired the remaining 25% stake it did not own in Chilean restaurant and food retail chain Unifood.

Posted Thursday, November 19th 2020
Mesoamerica Buys Remaining Stake in Chile’s Unifood

The remaining stake was sold by the company’s founding shareholders, making Mesoamerica the sole owner after having acquired a majority stake in 2016.

Unifood is Chile’s largest restaurant platform with more than 300 outlets, and operates brands such as Pedro, Juan & Diego, Pollo Stop, Fuente Nicanor, Heladerías Savory, Fajitas Express and XS Market.

With offices in Colombia, Costa Rica and Panama, Mesoamerica specializes in investing in growth markets across Latin America, with a focus on Colombia, Chile, Mexico and Peru.

The firm has invested across a variety of industries and actively managed companies in industries such as telecommunications, building materials, construction services, food retail, renewable energy, and business process outsourcing. 

“Our model is based on the identification of high impact platforms, we form alliances with its leaders and give them growth capital, strategic knowledge, governance and access to world class talent with the objective of boosting their growth and impact on the region,” according to the firm.

Mesoamerica was advised on the deal by Chilean law firm Carey, whose team comprised partners Francisco Ugarte, Francisca Corti and Jessica Power, counsel Alejandra Risso and associates Alejandra Daroch and Carla Karzulovic.

“The coronavirus pandemic provided particular difficulties to the due diligence process and negotiations, requiring creative and flexible thinking and strategies to bridge the gap between sellers and buyer in risk valuation and mitigation.,” the law firm said regarding the transaction.

Gamboa, Fuenzalida, Sanfeliú y Ugarte Abogados acted as counsel to the sellers, and whose team was led by partner Javier Ugarte.

Mesoamerica’s in-house counsel Alfredo Apestegui also advised on the transaction.