Ropes & Gray Represents Maverick Capital in the Sale of FreshDirect to Ahold Delhaize and Centerbridge Partners
Ropes & Gray represented Maverick Capital in the sale of its equity interest in FreshDirect, the U.S. online grocer, to Ahold Delhaize and Centerbridge Partners. Ahold Delhaize will acquire the majority share, and Centerbridge Partners will be a minority equity investor with a 20% stake. Terms of the transaction, which was announced on Nov. 18, were not disclosed. The press release is here.
Maverick Capital, based in Dallas, is a registered investment advisor managing private investment funds exclusively for qualified investors. After the deal closes, FreshDirect will retain its brand name, report to a seven-person board, and continue to operate out of its New York City facility.
The Ropes & Gray team that represented Maverick Capital was led by private equity partner Eric Issadore (San Francisco), and included private equity associates Raxit Shah and Joshua Tinnon (both of Chicago).