The Firm recently represented Dollar General Corporation (“Dollar General”) and its controlling shareholder Buck Holdings, L.P., an affiliate of Kohlberg Kravis Roberts & Co., L.P., in connection with a secondary offering of 34,500,000 million shares (including the full exercise of the over-allotment option) of common stock. The secondary offering closed at a public offering price of $46.75 per share, resulting in gross proceeds to the selling shareholders (including KKR, other investors and certain members of management) of approximately $1.61 billion.
Dollar General is the largest discount retailer in the United States by number of stores, with 10,052 stores located in 40 states, offering a broad selection of merchandise, including consumables, health and beauty products, seasonal products, pet supplies, home products and apparel.
The Simpson Thacher team for the transaction included Joe Kaufman, Marni Lerner, Matthew Farrell, Brittany McCants, and Summer Associate Gabriela Botifoll (Corporate); Jennie Getsin (FINRA); and Steven Todrys and Christian Miller (Tax).