Basham, Ringe y Correa advises Millfoods Company on transaction to enter the Mexican Market  

Socio en Basham, Ringe y Correa, S.C. has played a crucial role in advising Millfoods Company, S. de R.L. de C.V., a subsidiary of Milenio, in the transaction for the construction of a corn processing plant in Salamanca, Guanajuato, in a joint effort with Grupo Modelo.

The construction of the corn processing plant is evidence of Millfoods’ foray into the Mexican market with a $300 million investment, which will result in the creation of 1,000 jobs, an immediate benefit for 20,000 Mexican farmers and more than 1 million peasants by 2024.

The plant will become the largest and most advanced in the region, mainly for beer production. One of its main attributes will be its dry production cycle, which will reduce the need for water and accelerate the transition to a more sustainable and innovative agribusiness.

Basham’s comprehensive advice encompassed a number of critical services, including negotiating and drafting the transaction documents and conducting environmental and regulatory analyses.

About Milenio Capital:

Milenio Capital is a dynamic business consortium based in Honduras and, more recently, in Mexico through Millfoods. It aims to transform the food and beverage industries.  With a focus on beer and soft drinks, it has seamlessly integrated operations across the Americas, setting new standards.

Its combination of ambition and expertise drives partnerships in the global beverage arena, while branching into real estate, specialised services and project finance for holistic growth.

Strategic alliances with leading outsourcing companies drive innovation and market adaptability, with influence in more than countries around the world and its ESG-based approach, Milenio Capital ensures sustainable growth.

Basham´s partner Amílcar García led the transaction, together with partner Pedro Said and associates Antón Elorriaga and Pablo Chévez.

On behalf of the Milenio Group / Millfoods, Pilar Gutiérrez, Ralph Obelholzer, Ana Micheletti, Sara Ardon and Eugenio Souto participated in the transaction.

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