December 22, 2021

Mayer Brown advises Alpargatas on its investment in Rothy’s

A multi-office, multi-practice Mayer Brown team represented Alpargatas S.A., a Brazil-based, global footwear company creator of the famous flip flop "Havaianas," in its $475 million Series B investment in Rothy's, Inc., a San Francisco-based online retailer of eco-friendly footwear, bags and accessories.

Under the terms of the agreement, Alpargatas will acquire 49.9 percent of Rothy's in a four-step transaction. This will include an investment of $200 million in primary capital in two tranches followed by a tender offer and a private purchase to acquire approximately $275 million of Rothy's shares from current stockholders, including the founders, resulting in a post-investment valuation of $1 billion.

The Mayer Brown team was led by partners Carlos Motta (São Paulo) and Nina Flax (NorCal) and included lawyers across multiple practices and offices in the US, Brazil, China and Hong Kong.

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