Our Work
Latham & Watkins Advises Bain Capital Credit on Its Investment in Alsea Europe
November 5, 2021
Cross-border team advises on investment in leading operator of quick service restaurants, coffee shops, casual and family dining establishments.
Latham & Watkins has advised Bain Capital Credit on its joint investment with Alsea, S.A.B. de C.V., the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe, and private equity firm Alia Capital Partners in a 21.1% stake in Food Service Project, S.A. (Alsea Europe). The investment in the 21.1% stake amounts to 110.8 million euros, split 50:50 between Alsea and Bain Capital Credit.
Alsea Europe operates 10 brands with 1,388 restaurants in 6 markets: Starbucks (France, Netherlands, Belgium, Luxembourg, Spain and Portugal), Domino's Pizza, Foster's Hollywood, Foster's Hollywood Street, VIPS, VIPS Smart, Fridays, Burger King, OleMole (Spain) and Ginos (Spain and Portugal). Following the investment, Alsea will own 76.8% of Alsea Europe, (previously 66.2%), Bain Capital Credit will hold an indirect interest in 10.5%, and existing minority shareholders 12.7%.
The cross-border, multidisciplinary Latham team was led by London restructuring and special situations partners Yen Sum and Jennifer Brennan and by Madrid corporate partner Ignacio Gómez-Sancha alongside finance counsel Luis Sánchez Méndez and associates Hugo Bowkett, Maria Holzhammer, Ori Assa, Celia Vega-Penichet, Pablo Alarcón and Chris Attrill.