SRZ Advises on MOD-PAC Going Private Transaction

SRZ represented the CEO of MOD-PAC Corp. and a buyer group in a definitive merger agreement to take the NASDAQ-listed company private. Under terms of the agreement, which was announced April 11, 2013 and closed on Sept. 30, 2013, the buyers paid $8.40 per share in cash to acquire all of the company’s outstanding shares of common and class B stock. The price represents a premium of 53 percent over the closing price of the company’s shares on the last full trading day before the announcement of the acquisition proposal. Buffalo-based MOD-PAC is a leading designer and manufacturer of custom folding cartons for branded and private label consumer products in the food and food service, healthcare, medical and automotive industries.

The SRZ team for this transaction was led by mergers & acquisitions and securities & capital markets partner Peter Jonathan Halasz, and included special counsel Adriana Schwartz and associates Yanjun Wei and Clara Zylberg; tax partner Kurt F. Rosell; litigation partner Howard O. Godnick and former SRZ lawyer Lawrence S. Goldberg.