Simpson Thacher is representing Grupo Axo, S.A.P.I de C.V. in the formation of a joint-venture with The TJX Companies, Inc. in Mexico. Under the terms of the agreement, TJX would own 49% and Axo would own 51% of Axo’s existing off-price physical store retail business in Mexico, comprised of over 200 stores under the Promoda, Reduced and Urban Store banners. The transaction is subject to regulatory approvals and other customary closing conditions.
Grupo Axo is a leading multi-brand and multi-channel retailer of apparel, fashion accessories, footwear, beauty and personal care product categories, with a brand portfolio of recognized brands sold through more than 6,900 points of sale in department stores and more than 970 boutiques in Mexico, Chile, Peru and Uruguay.
The TJX Companies, Inc., a Fortune 100 company, is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, and operates over 4,900 stores in nine countries.
The Simpson Thacher team includes S. Todd Crider, Alejandro De Ramon-Laca, Enrique Güijosa and Isaac Cattan (M&A – Latin America); Peter Guryan and Richard J. Jamgochian (Antitrust); Ron Ben-Yehuda and Alysha Sekhon (Intellectual Property); and Andrew B. Purcell and William Smolinski (Tax).