GCR 100 2022

LCA Consultores

LCA Consultores

Professional notice

Global headBernardo Gouthier Macedo
Home jurisdictionBrazil
Countries with competition specialists1
Continents with competition specialists1
Total number of economists87
Competition economists27
% of firm specialised31%
Who’s Who Legal: Competition nominees3
Group one1
Group two3
Group three4
Group four19
Lateral hires0
Internal promotions0

LCA Consultores houses Brazil’s top competition economics group, having played a key role in many of the country’s highest-profile antitrust matters. Led by founding partner Bernardo Macedo, the competition group has established an excellent reputation in Latin America and beyond.

A 27-strong team of antitrust specialists, including the highly regarded Sílvia Fagá de Almeida, advised clients in multiple important merger control matters during our most recent research window. The consultancy was enlisted by Hypera and Takeda to advise on their merger, which Brazil’s Administrative Council for Economic Defence sent to Phase II and conditionally cleared in January 2021. LCA Consultores was also instructed by Hapvida to assist on its acquisition of Plamed, which CADE reviewed in-depth and subsequently conditionally cleared before blocking the deal several months later after the parties failed to comply with a divestment remedy within the appropriate deadline. 

Elsewhere, the firm advised Localiza and Unidas on their merger, which CADE is currently reviewing in depth. It also assisted DASA on its acquisitions of hospital group São Domingos, as well as Casa de Saúde Nossa Senhora do Carmo, CGMB, and Centro Médico Jaguaruna. For Sony Music’s acquisition of Brazilian music publisher Som Livre, the consultancy developed market share analysis and assessed the methodologies of the market-sizing data.

LCA Consultores worked on one behavioural investigation during our research window, advising iFood on an abuse of dominance complaint by Rappi, UberEats, 99 Food and Associação Brasileira de Bares challenging the company’s exclusive contracts with its restaurant partners.

Founded in 1995, LCA is the largest Brazilian economic consulting firm. We have a highly qualified team of 80 fully dedicated professionals. Our core competencies are in four areas – macroeconomics; market intelligence; investment and corporate finance; and economics & law.

LCA is the leader in competition economics in Brazil, with major achievements in antitrust, litigation and regulation. Its practice covers also trade defense, private litigation, international disputes, arbitration, tax, financial economics, and valuation.

LCA offers a full-service portfolio in the economics & law practice, from strategic and technical counselling and expert economic opinions to interaction with the Brazilian antitrust authorities, regulatory agencies, and the executive, legislative and judicial branches of government.

LCA has taken part in most high-profile cases brought before the Brazilian antitrust authorities to date, in many sectors, among which beauty, stock market, banking, education, health care, cement, digital markets and advertising, automobile parts, food, beer, petrochemicals and chemicals, retail, tobacco, steel and metallurgy, fertilizer, lenses, fuel, car rental, civil aviation, orange juice, pulp and paper, among others.

LCA has been involved in many multijurisdictional cases – such as Natura/Avon, Essilor/Luxxotica/GrandVision, Suzano/Fibria, Basf/Solenis, FX Cartel. We are the only Brazilian consultancy that led cases shortlisted at GCR's Awards. We supported Disney/Fox merger in Brazil, that won the "Merger Matter - Americas" award in 2020 –, and also the Itaú/Edenred merger, that was shortlisted in the same category. In this same edition of the GCR Awards, Google Shopping, which was filed by CADE after a 7 year probe, was short-listed as “Behavioral matter – Americas”.

Our leadership is recognized by Who`s Who Legal – Competition Economists: Bernardo Macedo and Sílvia Almeida are praised as Thought Leaders, and, together with Gustavo Madi, led a team with more than 30 professionals fully dedicated to economics & law, with huge and diversified experience and lasting partnerships with the main law firms in Brazil. These features made us the only Latin American economic consultancy to be listed at Latin Lawyer 250.

Website: www.lcaconsultores.com.br

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