Kirkland & Ellis LLP advised Vitamin Shoppe Inc. (NYSE: VSI), an omni-channel, specialty retailer and contract manufacturer of nutritional products, on cooperation agreements with Shah Capital Management and Vintage Capital Management, which hold approximately 17.7% and 14.8% of Vitamin Shoppe’s outstanding common stock, respectively. As part of the agreements Vitamin Shoppe announced that it will appoint two directors proposed by Shah Capital and one director proposed by Vintage Capital to the Vitamin Shoppe board, and may appoint two additional independent directors at a later date. Each of Shah Capital and Vintage Capital has agreed to certain standstill provisions and voting commitments under the cooperation agreements until prior to the nomination deadline for Vitamin Shoppe’s 2020 annual meeting. The cooperation agreements follow the nomination by Vintage Capital of a full slate of directors at Vitamin Shoppe’s 2018 annual meeting. Further information is available here.
The Kirkland team is led by corporate partners Michael Brueck and Shaun Mathew and associate Francisco Morales; and capital markets partner Christian Nagler.