Latham Represents CD&R as Plan Sponsor in Multi-Color’s Successful US$6 Billion Recapitalization

Clayton Dubilier & Rice LLC, on behalf of itself and certain affiliates (CD&R), supported Multi-Color Corporation (MCC or the company) in its prepackaged chapter 11 cases to implement a comprehensive restructuring of its balance sheet. Under the terms of the plan, CD&R and a group of MCC’s existing secured lenders invested US$889 million in new money to recapitalize MCC’s business and position it for long-term growth as a global leader in prime label solutions.

The plan was confirmed by the United States Bankruptcy Court for the District of New Jersey with the overwhelming support of MCC’s economic stakeholders. Under the terms of the plan, MCC eliminated approximately US$3.8 billion of funded debt obligations, reduced annual interest expense by more than US$330 million, and obtained US$500 million of direct liquidity to support its business. CD&R remains the majority shareholder of the company.

Latham & Watkins LLP represented CD&R in the process with a Restructuring team led by partners Ray C. Schrock, Ryan Preston Dahl, and Candace M. Arthur, with associates Deniz Irgi, Meghana Koenitzer, Brian Herskowitz, Davis Klabo, and Esteban Woo Kee, and a litigation team led by partner Joseph Serino Jr. and counsel Zachary F. Proulx, with associates Mohamed Said and Mary Triplett. Advice on corporate matters was provided by partners Marc Granger and Salvatore Vanchieri and counsel Lucas Balchun, with associates Claire Solimine and Lauren Stern.