Faro Capital Fondo de Inversión en Retail acquires brands, assets and licences related to textil business “Tayssir”, “Korda” and “47 Street”

Hernández & Cía. Abogados has advised Faro Capital Fondo de Inversion en Retail -leading Peruvian private equity fund focused on retail business – through its related company Megatex MD S.A.C., in an acquisition of textile related assets property of Barache S.A.C. and F.F. Textil S.A.C., which included both of the top rated Peruvian clothing brands “Tayssir” and “Korda”. The transaction also involved the execution of a license agreement in favor of Faro Capital to operate in Peru the top teen oriented clothing regional brand “47 Street”, property of Angelicals S.A. (Argentina).

As part of the acquisition structure, Hernandez & Cia. Abogados worked on a complete and diverse assets purchase agreements (brands and assets), brand license agreements and a mortgage over real state owned by F.F. Textil S.A.C. (on which is located its textil industrial plant). Hernandez & Cia. Abogados also was involved in the post-transaction acts intended to the filing and registration, before the INDECOPI (Peruvian Intellectual Property Regulator), of the new ownership and license of the acquired and licensed brands by Megatex MD S.A.C.

Currently the fund has already acquired 10 brands and their strategy is getting additional brands. In 2016, Faro Capital has allocated US$ 40 MM in acquisition transactions. Their goal is getting approach the 20 brands and become the largest retail operator in Peru.
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