Akin Gump Advises Capmark Financial Group in Acquisition of Orchard Brands
(New York) – Akin Gump advised Capmark Financial Group Inc. in its definitive agreement to acquire Orchard Brands Corporation for $410 million in cash, subject to various pre- and post-closing adjustments. The boards of directors of both companies have approved the transaction, which is expected to close in the third quarter of 2015, subject to the satisfaction of customary closing conditions, including the compliance with the filing and waiting periods under the Hart-Scott-Rodino Act.
Capmark is a Minnesota-based holding company whose businesses include Bluestem Brands, Inc., a multi-brand, online retailer of a broad selection of name-brand and private label general merchandise serving low- to middle-income consumers in the United States. Orchard Brands, based in Massachusetts, is a national multi-channel direct marketer offering apparel, accessories and home products principally in the boomer and senior demographic.
The Akin Gump team that advised Capmark was led by corporate partner David D’Urso and included Kerry Berchem, who heads the firm’s corporate practice; partner Howard Jacobson and counsel Nyron Persaud of the tax practice; labor and employment partner Lauren Leyden; environment and natural resources partner David Quigley; and corporate associates John Howell and Charlie Hely.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
# # #