The Firm recently represented Dollar General Corporation ("Dollar General"), a portfolio company of Kohlberg Kravis Roberts & Co., L.P., in connection with a secondary offering of 29,871,200 shares (including partial exercise of the over-allotment option) of common stock at a public offering price of $27 per share, resulting in gross proceeds to the selling shareholders (including KKR, other investors and certain members of management) of approximately $807 million.
Dollar General is the largest discount retailer in the United States by number of stores, with 8,877 stores located in 35 states, offering a broad selection of merchandise, including consumables, seasonal, home products and apparel.
The Simpson Thacher team for the transaction included Joe Kaufman, Sirimal Mukerjee, LeAnn Leutner, Ravi Purushotham and Josh Faber (Capital Markets), Jennie Getsin (FINRA), Jonathan Cantor and Rian Balfour (Tax) and Wonda Quinn (Executive Compensation and Employee Benefits). Paralegal Chris Stone provided valuable assistance.