Fried Frank acted as counsel to Goldman Sachs as financial advisor to United Natural Foods, Inc. (UNFI) in its approximately US$2.9 billion acquisition of SUPERVALU, Inc. Under the definitive agreement, UNFI will acquire SUPERVALU for US$32.50 per share in cash, including the assumption of outstanding debt and liabilities. SUPERVALU is one of the largest grocery wholesalers and retailers in the US. UNFI delivers healthier food options to people throughout the United States and Canada. The transaction has been approved by the boards of directors of both companies and is subject to antitrust approvals, SUPERVALU shareholder approval, and other customary closing conditions, and is expected to close in the fourth quarter of calendar year 2018.
The Fried Frank team was led by corporate partner Philip Richter and included corporate special counsel Brian A. Blitz.