Kirkland & Ellis advised Ahold Delhaize, one of the world’s largest food retail groups, on its acquisition of FreshDirect, an online grocer based in New York City. Ahold Delhaize will acquire a majority interest, funded by cash on hand, and Centerbridge Partners will be a minority equity investor with a 20% stake. After the deal closes, FreshDirect will retain its brand name, report to a seven-person board and continue to independently operate out of its facility in New York City. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approval. Financial terms of the transaction were not disclosed.
The Kirkland team was led by transactional partners Will Boothby and Jonathan Davis and associate Michael Chung, employment & labor partner R.D. Kohut, antitrust partners Ian John and Mike DeRita, and tax partners Ben Schreiner and Dave Mannion.