Mexico’s Grupo Hunan buys Glisco’s stake in the company

Posted on Oct 17, 2023

Grupo Hunan, a high-end restaurant operator with over 30 locations in Mexico and the US, and its controlling shareholders have bought out the stake held in the company by Glisco, a leading growth equity and structured financing fund in Mexico with over 20 years in the industry.

The buyout involved two tranches, of 350 million pesos and 290 million pesos (totaling around $35.3 million) of a leveraged buyout to acquire the position held in Grupo Hunan by Glisco.

“The deal was particularly challenging given that the structure was negotiated at-length and required to conform different concepts in order for the transfer formalities under Spanish law to be consistent with a Mexican-law governed stock purchase agreement.¡,” according to law firm Gonzalez Calvillo, which acted as Mexican counsel to Grupo Hunan.

The transaction also implied the negotiation and closing of highly complex documents, the firm said.

The firm’s team was led by partners José Ignacio Rivero Andere and Enrique González Calvillo, with managing associate Jacinto Ávalos Capín, associates Rodrigo Poumian González and Héctor Ferrari Ruiz, and law clerks Valeria Camacho Bello and Sofía Ramírez Esparza.

Mexican law firm Creel, García-Cuéllar, Aiza y Enríquez acted as Mexican counsel to Glisco, while Ceca Magan acted as Spanish counsel to Grupo Hunan.