Schulte Advises Albertsons Companies Inc. in Preferred Equity Investment Led by Apollo Global Management Inc.

Schulte advised Albertsons Companies Inc., one of the nation’s largest food and drug retailers operating stores in 34 states and the District of Columbia, in the issuance and sale of $1.75 billion in convertible preferred equity of Albertsons Companies to a group of investors led by Apollo Global Management Inc. Albertsons Companies is backed by an investment consortium led by Cerberus Capital Management LP, which also includes Kimco Realty Corporation, Klaff Realty LP, Lubert-Adler Partners LP and Schottenstein Stores Corporation. The transaction was announced in May 2020 and closed in June 2020.

The Schulte team was led by M&A and Securities partner Stuart Freedman. The team also included employment & employee benefits partners Ian Levin and Ronald Richman, special counsel Scott Gold and associate Adam Gartner; litigation partner Michael Swartz; tax partner Alan Waldenberg; M&A and Securities special counsel Gregory Kinzelman, and associate Evan Berger; and former Schulte lawyers Antonio Diaz-Albertini, Travis Gantt, Matthew Gruenberg, Adam El-Sahn, Evelyn Liristis, David Passey and Jaclyn Malmed.