Cleary Gottlieb represented long-time client Acon Investments in its acquisition of G. Barbosa Comercial Ltda. from Royal Ahold. G. Barbosa is based in Aracaju, Brazil and is the 7th largest supermarket chain in the country. The transaction is a leveraged buy-out involving management.
Acon conducted the investment as a “club” deal, with investors participating at various levels. EGI (a fund controlled by Zell) brought significant equity. European development banks FMO and DEG provided equity and mezzanine financing. CSFB Brazil provided a senior secured facility.