October 16, 2017
Avendra, the leading North American hospitality procurement services provider, has announced that its Board of Managers reached a binding agreement with Aramark Corporation (NYSE: ARMK) to acquire the company for $1.35 billion. Avendra is owned by founding shareholders Marriott International, Hyatt, Accor, ClubCorp and IHG. The transaction is subject to the expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act and satisfaction of other customary closing conditions. The parties expect the transaction to close before year-end.
Latham & Watkins LLP represents Avendra in the transaction with a corporate deal team led by partners Scott Herlihy and Paul Sheridan and counsel Joseph Simei, with associates Rohith Parasuraman, Mariclaire Petty and Monica Hernandez. Advice was also provided on finance matters by partner Jeffrey Chenard, with associates Jonathan Homer and Melissa Frankel Fabian; on antitrust matters by partners Michael Egge and Luca Crocco and counsels Farrell Malone and Peter Todaro, with associate Brian O’Connell; on tax matters by partner Andrea Ramezan-Jackson, with associate Gaston Soler; on benefits and compensation matters by partner Lori Goodman; on intellectual property matters by partner Jeremiah Wolsk, with associate Ryan Clore; on environmental matters by partner James Barrett; on real estate matters by partner Dara Denberg; and on regulatory matters by partner Eric Volkman. All lawyers are based in the firm’s Washington, D.C. office, with the exception of Mr. Crocco, who is in Brussels, and Ms. Goodman and Ms. Denberg, who are both in New York.