Carozzi strikes share purchase agreement with Tiger Brands

The sale is part of Tiger Brands’ strategic decision to refocus its growth in South Africa and concentrate its investments in areas where it holds a controlling position.

The purchase price for the shares amounts to $181 million, which will be paid upon the transaction's closing.

The funds for the acquisition will be obtained from CSA’s proportional share of an extraordinary dividend to be distributed by its subsidiary, Empresas Carozzi S.A., totaling an equivalent of $240 million.

Upon the successful completion of this transaction, CSA will increase its ownership stake in Empresas Carozzi to 99.99%, further consolidating its control over one of the most important food and beverage companies in Latin America participating in more than 25 categories, with plants operating in Chile, Peru and Argentina, and with exportations to more than 50 countries.

Chilean law firm Guerrero Olivos acted as legal counsel to Carozzi, providing comprehensive legal support throughout the negotiation and execution of this high-stakes transaction, ensuring compliance with regulatory requirements and safeguarding CSA’s strategic objectives.

Guerrero Olivos’ team was led by partners Jorge Delpiano and César Gálvez, with partner Benjamín Ferrada and senior associate Sebastián Marambio, as well as associates Sebastián Devlahovich, Sophie Beaujanot, Santiago Barros and Alexandra Höpfner.

Law firm Valdés y Cía. acted as counsel to Tiger Brands Chile, with a team led by partner Luis Carlos Valdés, with associate Raimundo Soto.