Mr. Kashper is partnering with TSG Consumer Partners (TSG), a leading strategic equity investor in growth-oriented consumer brands, to acquire the iconic brand from billionaire investor Dean Metropoulos.
The deal, led by McDermott Corporate Advisory Partner Tom Conaghan and Alcohol Regulatory & Distribution Partner Marc Sorini, is the latest in a growing repertoire of significant acquisition work handled by McDermott in the alcohol beverage space. Last year the Firm represented a major industry player in connection with the financing of and antitrust approvals for a significant industry acquisition, as well as the buyer in the acquisition of a U.S. craft beer company, reportedly the largest acquisition in the craft beer space to date. The latter was also led by Conaghan and Sorini.
“We are excited to have been a part of this transaction,” said Sorini, whose alcohol beverage practice covers licensing, labeling, advertising, trade practices, distribution, import-export, formulation and excise taxation. “By combining our outstanding knowledge of the alcohol beverage industry with our world-class transactional capabilities, we can offer clients unmatched service when doing deals in this industry sector.”
The parties did not disclose the terms of the deal, but did confirm that Mr. Kashper will serve as CEO of Pabst and TSG will acquire a minority stake in Pabst as part of the transaction. The deal was announced on Sept. 19.
In addition to Conaghan and Sorini, McDermott’s cross-disciplinary team of partners included Stephanie McCann, Lynn Anne Shapiro and Samuel Wales in Corporate Advisory; Joel Grosberg, Carla Hine and Warren Rosborough in Antitrust; Maureen O’Brien and Stephen Erf in Employee Benefits; Daphne Trotter in Energy; Joanne Ludovici in IP Prosecution; Thomas Donohoe in State and Local Tax; Chris Scheithauer and Ellen Tenenbaum in Trial; and Kevin Feeley, Gary Karch, Martin Milner, James Riedy, Jeffrey Wagner, and Thomas Ward in U.S. and International Tax.
Regulatory Counsel Arthur DeCelle, Alcohol Regulatory Specialist Lonette Merriman, Staff Attorney Katherine Froelicher and associates Jalpit Amin, Christine Corkran, Jeffrey Ekeberg, Raymond Gabriel, Bethany Hatef, George Houhanisin, Ling Kong, Elisabeth Morgan, Jason Remsen, Sarah Steigleder and Zachary Swartz also contributed to the transaction.
McDermott Will & Emery’s Corporate Advisory Practice represents a wide spectrum of business interests around the world, from global corporations and industry leading companies to privately funded and entrepreneurial driven enterprises, as well as the financial institutions that support them. McDermott Will & Emery’s mergers and acquisitions lawyers advise U.S. and multinational corporations, private equity funds, emerging companies and venture-funded start-ups on the full range of transactions, from both the buyer and seller perspective.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,100 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.