US Foods’ Convertible Preferred Equity Investment from KKR

On April 21, 2020, US Foods Holding Corp. (“US Foods”), a leading foodservice distributor, announced that affiliates of global investment firm KKR have agreed to purchase $500 million in newly issued convertible preferred stock of US Foods. Cravath is representing US Foods in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes senior attorney Brittain A. Rogers and associates Jin‑Kyu Baek, Katharine A. Patterson, Maria Ricaurte and Michael P. E. Dooley on M&A matters; partners Andrew J. Pitts, Joseph D. Zavaglia and C. Daniel Haaren on financing matters; partner Andrew W. Needham and associate Richard Bohm on tax matters; and partner Jonathan J. Katz and associates Matthew J. Bobby and Anna Mikaelyan on executive compensation and benefits matters. Karan S. Zoria also worked on M&A matters and Brittany A. Milano also worked on tax matters.