News 18 Feb. 2015

Curtis' Demoulas Super Markets Deal Chosen as Finalist in Two Categories for M&A Atlas Awards

The sale of a majority stake in Demoulas Super Markets was selected as a finalist in two separate categories for the 2015 M&A Atlas Awards, Global Major Markets: North American M&A Deal of the Year ($5 million to $1 billion) and Consumer Retail Services Deal of the Year.

Curtis lawyers represented a significant minority shareholder group of Massachusetts-based Demoulas Super Markets, Inc., which operates the Market Basket supermarket chain, in the transaction in which the Class A shareholders sold their shares, representing 50.5% of the Company, to the existing Class B shareholders.

The sale, which closed on December 12, resulted from weeks of intense negotiations, including intervention of the Governors of Massachusetts and New Hampshire, following decades of litigation.

Market Basket, founded in 1916 and headquartered in Tewksbury, Massachusetts, operates a chain of 74 grocery stores across Massachusetts, New Hampshire and Maine, serving customers throughout the New England region.

The Curtis attorneys worked closely with Lincoln International, a leading global middle market investment bank, which was the exclusive investment banking representative for the minority shareholder group.

The Curtis team of more than a dozen lawyers was led by Corporate M&A partner Lawrence Goodman and Trusts & Estates partner Tina Albright. Attorneys working on the matter included Corporate M&A counsel Joshua Geller and associate Joshua Holt, Corporate Finance partner Evan Borenstein and associate Brendan Snowden, Tax partner Alan Berlin and counsel KC Chiang, Real Estate partner Martin Forman and counsel Catherine Baecher, Litigation partner Turner Smith, Antitrust partner Jeffrey Zuckerman, and Trusts & Estates associates Michael Schwartz and Jonathan Byer.

The award winners will be named at the Annual M&A Atlas Awards Gala and Dinner on March 31 in New York.