Proskauer Advises Ares Management on $975 Million Agreement to Acquire Smart & Final Holdings
October 18, 2012 (Los Angeles) – Global law firm Proskauer served as counsel to funds managed by Ares Management LLC in their pending acquisition of Smart & Final Holdings Corp. for $975 million.
As part of a definitive agreement announced by the two companies, funds managed by Ares Management will acquire Smart & Final, which operates a network of nearly 250 non-membership warehouse locations that sell groceries, cleaning supplies and other household items. The stores also operate under the Smart & Final Extra! and Cash & Carry names and span the western United States and northwest Mexico.
The Proskauer team was led by Mergers & Acquisition Group Partner and co-head Michael A. Woronoff, and included Partners Daniel I. Ganitsky (M&A), Michael Fernhoff (Tax) and Andrew Bettwy (Finance); Senior Counsel Michael Weiss (Litigation); Special Counsel Amber Busuttil Mullen (Executive Compensation and Employee Benefits), Brian S. Rauch (Labor & Employment) and John Ingrassia (Antitrust); and Associates Christopher D. Ahn, Nicole F. Ross, Jeffrey M. Kropp, Douglas P. Bouton and Aliza R. Cinamon (M&A), Jill L. Rickard (Finance), Anne Kim (Tax), Mira Serrill-Robins (Litigation), Sean D. McGrath (Executive Compensation and Employee Benefits), Melody J. Chen and Allen J. Loeb (Real Estate) and Derek J. Heuzey (Intellectual Property).
This is the most recent transaction on which Proskauer represented Ares, which is a long-term client of the firm. In August 2012, the firm represented Ares in closing a $4.7 billion buyout fund, its fourth and largest to date, and in October 2011, Proskauer advised the firm in its $1.6 billion acquisition of retail chain 99 Cents Only Stores.
Proskauer's Mergers & Acquisitions Group has been consistently recognized by leading ranking publications for its work around the world, with Chambers USA and US Legal 500 ranking the practice in their top tier and quoting Proskauer clients about the firm’s integral role in getting their deals done. Dow Jones Private Equity Analyst named Proskauer to its list of “Most Active Law Firms” (by number of buyouts), and the firm regularly appears on Thomson Reuters, Bloomberg and MergerMarket league tables in the U.S. and globally for involvement in completed deals.