Greenberg Traurig LLP issued the following announcement on Oct. 20.
A team of attorneys from global law firm Greenberg Traurig, LLP represented Hugo Technologies, the owner of the popular Hugo App, in negotiating the sale of its food and grocery delivery business to Delivery Hero SE, the world’s leading local delivery platform. The transaction, which is expected to close in the first quarter of 2022, will expand Delivery Hero’s business in Latin America and the Caribbean.
Founded in El Salvador in 2017 by Alejandro Argumendo, Ricardo Cuellar and Juan Maceda, Hugo Technologies is the creator of the leading food delivery app in Central America with a strong presence in the Caribbean. It operates as a multi-category marketplace offering on-demand delivery for restaurants, grocery stores, and pharmacies, plus a variety of digital payment services. It is currently active in more than 40 cities across six countries.
“This transaction is indicative of a trend we are seeing across Latin America where successful young entrepreneurs like Alejandro, Ricardo and Juan are leveraging technology and the region’s top-tier investor expertise to transform the way business is done,” said Yosbel A. Ibarra, who co-led the Greenberg Traurig team and is co-managing shareholder of the firm’s Miami office.
“We are thrilled to have been a part of Hugo’s success story,” said Shareholder Carol Barnhart, who co-led the team representing Hugo Technologies. “Having led M&A deals as an in-house counsel for many years, I understand what it takes to get a deal done. The resources, collaboration and expertise of our Latin American team here at Greenberg Traurig allow us to guide our clients through these transformative transactions.”
In addition to Ibarra and Barnhart, the Greenberg Traurig team included Associate Anthony J. Fernandez, and Co-Chair of the Miami office Tax Practice, L. Frank Cordero.
The Hugo Technologies transaction is the most recent transaction for Greenberg Traurig’s Latin America team. Earlier this year, Ibarra and Barnhart represented OneLink Holdings and One Equity Partners in the sale of OneLink, a leading provider of business process outsourcing (BPO) and customer relationship management (CRM) solutions, to Webhelp. In late September, Shareholder Antonio Peña led Procaps Group, a leading integrated healthcare and pharmaceutical company, in its $1.3 billion business combination with Union Acquisition Corp. II, a publicly-traded Cayman Islands special purpose company (SPAC), creating a Luxembourg-based company listed on the Nasdaq Global Market.
“As we celebrate the 10th anniversary of our Mexico City office later this month, transactions like these highlight how Greenberg Traurig consistently leverages its global network, decades of experience, and team-centered approach to help our clients get deals done in Latin America,” Ibarra said.
Original source can be found here.