We are advising the lead arranger on the acquisition financing

Davis Polk is advising the lead arranger in connection with the debt financing for a proposed merger pursuant to which members of the senior management team of Franchise Group, Inc. will acquire the approximately 64% of Franchise Group’s issued and outstanding common stock that the management group does not presently own or control. The transaction has an enterprise value of approximately $2.6 billion.

Franchise Group is an owner and operator of franchised and franchisable businesses, including Pet Supplies Plus, Wag N’ Wash, American Freight, The Vitamin Shoppe, Badcock Home Furniture & More, Buddy’s Home Furnishings and Sylvan Learning. On a combined basis, Franchise Group currently operates over 3,000 locations predominantly located in the United States that are either company-run or operated pursuant to franchising and dealer agreements.

The Davis Polk finance team includes partner Christopher Nairn-Kim, counsel Christian Fischer and Randy Dorf and associates Sarah Hylton and James Moore. Partner Corey M. Goodman and associate Benjamin Helfgott are providing tax advice. All members of the Davis Polk team are based in the New York office.

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