GCR 100 2024

LCA Consultants

LCA Consultants

Professional notice


Founded in 1995, LCA is the largest Brazilian economic consulting firm. We have a highly qualified team of about 100 fully dedicated professionals. Our core competencies are in four areas: macroeconomics; market intelligence; investment and corporate finance; and economics and law.

LCA’s economics and law practice is the leader in competition economics in Brazil, with major achievements in antitrust, litigation and regulation – it ranks among the “Economics 23” list in the GCR 100. Its practice also covers trade defence, private litigation, international disputes, arbitration, tax, financial economics and valuation.

The economics and law team offers a full-service portfolio, 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 several high-profile cases brought before the Brazilian antitrust authorities to date and has been involved in many multi-jurisdictional cases – such as Suzano/Fibria, Fox/Disney, Google Search, Basf/Solenis, FX Cartel and Natura/Avon. In regulation, LCA’s practice covers a wide array of industries, such as telecoms, electric power, aviation, ports, railway and biofuel. It has led projects in many industries, including banking, education, healthcare, cement, digital markets and advertising, automobile parts, food, beer, petrochemicals and chemicals, retail, tobacco, steel and metallurgy, fertilizer, lenses, fuel, civil aviation, orange juice, pulp and paper, and magazine distribution.

LCA’s team has more than 30 professionals fully dedicated to economics and law, with huge and diversified experience and lasting partnerships with the main law firms in Brazil. The expertise of its team is recognised by Who’s Who Legal, which features Bernardo Gouthier Macedo as a Global Leader, Silvia Fagá de Almeida as a Thought Leader, and Gustavo Madi as a Competition Economist worldwide.

LCA is the only Brazilian consultancy to have led cases that won GCR awards – Merger Control Matter of the Year (Americas)–twice: in 2020, with Disney/Fox, and in 2015, with the Kroton-Anhanguera case, a merger that created the biggest education firm in the Americas. Also, in 2020 the Google Shopping probe was shortlisted for the Behavioural Matter of the Year (Americas) award. With LCA’s support, CADE’s Tribunal found no competitive harm at the Brazilian market, after seven years of investigation.


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