Veronica Burgueño – GC Powerlist
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Uruguay 2024

Consumer products

Veronica Burgueño

General counsel | Henderson & Cía - Tienda Inglesa

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Uruguay 2024

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Veronica Burgueño

General counsel | Henderson & Cía - Tienda Inglesa

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

As the leader of the internal legal department during challenging times, my approach is to keep my team closely connected, fostering fluent and open communication that allows us to face challenges together. I view every crisis as an opportunity for growth and learning, so I focus on the issues we can resolve, trust my team – and ensure they know I trust them – and work hard to address those issues. Once the crisis has passed, I always celebrate the achievements with my team. My belief is that goals aren’t simply reached; every member of the team constructs themtheyteam, so we celebrate our accomplishments together. 

Tienda Inglesa has faced significant challenges recently (our main store was destroyed by a major fire two years ago), and we are currently working towards reopening in the last quarter. Resilience has been our key focus since then, and my team has been deeply involved in the process of reopening, including drafting contracts and obtaining permits. As a growing business, our legal department also plays a role in the opening of new stores (10 in the past 6 years) and the acquisition of self-service businesses across the country (60 in the past 5 years). Over these years, we have promoted collaboration and teamwork with all departments involved in these operations, and it is part of our daily responsibility to align with the broader business strategy. Moreover, each of these operations has tested our resilience, and I am proud to say that we have succeeded every time! 

 

What are the main cases or transactions that you have been involved in recently? 

Since January 2023, I have been involved in several key transactions that have expanded our self-service portfolio within the Red Express Network. 

In addition to our supermarket chain, the Tienda Inglesa Group operates a self-service chain called Red Express, which is primarily focused on acquiring existing self-service stores. The legal structures used in these acquisitions have included share purchase agreements, the transfer of social quotas, and, notably, the usufruct of shares or social quotas, depending on the case. All these transactions were handled entirely by the internal legal team I lead. 

For example, in May 2023, Tienda Inglesa acquired six self-service businesses from the IBF Group, located in the departments of San José, Durazno, and Río Negro, expanding the Red Express business in the interior of the country. In September, October, and December 2023, and February 2024, additional contracts for the usufruct of shares or social quotas were signed, adding four more self-service stores to the Red Express chain, as well as a home goods bazaar. 

For each transaction, our internal legal department reviews and negotiates all terms and conditions, drafts the necessary documents, and prepares the forms required for post-closing. Since these self-service businesses are typically family-owned, their fiscal, accounting, and legal statuses can present challenges. Every operation brings unique risks, but we have successfully managed them, working to regularise their status while maintaining positive relationships with usufructuaries and stakeholders, including employees, unions, and local and national authorities. 

Given Uruguay’s Competition Law, the growth of our business is subject to scrutiny by the authorities, requiring us to seek approval from the Competition Defence Commission before finalising any deal. Recently, we have secured favourable rulings from the Commission, streamlining the process for us. These submissions were managed entirely by our legal team. For instance, in the case of five minimarkets located in Durazno and several self-service stores in Montevideo, Tienda Inglesa obtained favourable rulings by applying a new legal criterion. The geographical area considered for the analysis of economic effects was broader, which, in Durazno’s case, included all stores in the city, allowing the transactions to proceed. 

 

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?   

At Tienda Inglesa, sustainability and quality are the core pillars of our business. We are continually developing initiatives that contribute positively both socially and environmentally. One of our main goals is to promote the well-being of the communities around us. In 2018, we established our Foundation to fulfil our mission of helping individuals with fewer opportunities build more stable and fulfilling lives. The Foundation runs two key programmes focused on providing job opportunities to young people in vulnerable situations, enhancing the skills of both our associates and participants. 

In terms of environmental protection, in November 2021, we opened our Car One branch, the first to fully implement our sustainability plan and demonstrate sustained progress. This branch received the EDGE Certification, making it the first project in Uruguay and the second supermarket in Latin America to achieve this recognition. It was awarded for incorporating advanced technologies in energy and resource efficiency across the building’s design, construction, and operations. 

We have also made significant efforts to reduce plastic usage in the Fresh department, cut down on paper mailings, and improve waste management with a new internal recycling process and a Recycling Centre for customers. Additionally, we introduced new shopping trolleys made from fishing nets recovered from the ocean, helping to protect marine wildlife and giving plastic a second life. 

Since July 2023, we have partnered with the Banco de Alimentos de Uruguay (Food Bank) to donate baked goods and dairy products to organisations in Montevideo and Canelones, close to our branches in these areas. Ensuring the successful and timely implementation of all these initiatives is a key part of my role within the company. This is achieved through close coordination between different departments and external organisations, ensuring compliance with all national regulations, and with the support of the Company’s Executive Committee, of which I am a member as General Counsel. 

Verónica Burgueño - Uruguay 2023

General counsel | Tienda Inglesa – Henderson & Cía

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