US Foods’ Acquisition of Smart Foodservice

On March 6, 2020, US Foods Holding Corp. (“US Foods”) announced that it has entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores (“Smart Foodservice”) from funds managed by affiliates of Apollo Global Management, Inc. for $970 million in cash. Smart Foodservice operates 70 small‑format cash and carry stores that serve restaurants and other food business customers with a broad assortment of products. Cravath is representing US Foods in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes associates Bethany A. Pfalzgraf, Michael W. Fahner, Katharine A. Patterson and Kyra E. Ferber on M&A matters; partner Joseph D. Zavaglia, senior attorney Isaac C. Beerman and associate Michael A. Naclerio on financing matters; partner Andrew W. Needham and associates Richard Bohm and Leon B. Dalezman on tax matters; partner Jonathan J. Katz and associates Matthew J. Bobby and Anna Mikaelyan on executive compensation and benefits matters; partner David J. Kappos and associate Somi A. Umolu on intellectual property matters; partner Matthew Morreale on environmental matters; and senior attorney Joyce Law and practice area attorneys Brian M. Budnick and Laurel R. Berkowitz on real estate matters. Karan S. Zoria also worked on M&A matters.