Consumer Products and Services

Cravath represented Booking Holdings Inc. in connection with its €1.75 billion registered senior notes offering. Booking Holdings Inc. is a leading provider of online travel and travel-related reservation and search services. The transaction closed on May 12, 2023.

Cravath represented the underwriters in connection with the €600 million registered floating rate senior notes offering of Kraft Heinz Foods Company, one of the largest food and beverage companies in the world at the time of the offering. The transaction closed on May 10, 2023.

Cravath represented the initial purchasers in connection with the $2.5 billion 144A/Reg. S notes and sustainability notes offering of Mars, Incorporated, one of the world’s largest privately held, family‑owned businesses with a history of successfully building and growing market‑leading consumer brands for over 100 years. The transaction closed on April 20, 2023.

Cravath represented the underwriters in connection with the $650 million registered notes offering of Brown‑Forman Corporation, a leading global spirits company. The transaction closed on March 23, 2023.

On December 12, 2022, BDT Capital Partners LLC (“BDT”) and Weber Inc. (“Weber”), a global leader in outdoor cooking innovation, technology and products, announced that they have entered into a definitive merger agreement pursuant to which investment funds managed by BDT will purchase all of the outstanding Class A Shares that they do not already own, for $8.05 per share of Class A common stock of Weber, which implies a total enterprise value of $3.7 billion for Weber. Cravath is representing BDT in connection with the transaction.

On March 28, 2023, Global Competition Review honored Cravath at the publication’s annual awards ceremony, which was held in Washington, D.C. in celebration of “the world’s leading antitrust lawyers and economists and the biggest cases from 2022.” The Firm was honored as GCR’s “Regional Firm of the Year” for the Americas, while partner Christine A. Varney was recognized as “Lawyer of the Year.” The Firm’s work over the last year included cases—many still ongoing—for clients including Blue Cross Blue Shield, Epic Games, Illumina, Meta and Robinhood.

On March 15, 2023, Benchmark Litigation honored Cravath at the publication’s eleventh annual U.S. Awards, which was held in New York City in celebration of “the country’s most distinguished litigators and their firms for their exemplary work over the past twelve months.” The Firm was awarded Benchmark Litigation’s “Antitrust Firm of the Year” award, which recognized Cravath’s representation of clients, including Epic Games, Louis Dreyfus Company and Qualcomm. Cravath partner Timothy G. Cameron accepted the award on behalf of the Firm.

On February 9, 2023, Cravath was featured by Law360 as a “Competition Practice Group of the Year,” receiving the distinction for the fifth time in six years. The profile recognized the Firm’s role in securing “major trial wins” for clients Louis Dreyfus Company in the denial of the DOJ’s request for an injunction to block its sale of Imperial Sugar Company, and Illumina in a groundbreaking victory rejecting the FTC’s challenge to its $8 billion acquisition of GRAIL, as well as obtaining a “crucial ruling” for Blue Cross Blue Shield (“BCBS”) on a summary judgment motion in long‑running antitrust litigation.

On January 18, 2023, Cravath was featured by Law360 as an “M&A Practice Group of the Year,” receiving the distinction for the tenth time in twelve years. The profile highlighted the Firm’s role representing CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners, SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation, and Johnson & Johnson in the planned separation of its Consumer Health Business.

On December 12, 2022, Cravath’s antitrust practice was ranked among the “Elite” in Global Competition Review’s 2023 edition of GCR 100, a guide to the world’s leading competition law and economics practices. This is the eleventh consecutive year the Firm has been ranked in the highest tier among New York Firms by GCR. The publication highlighted Cravath’s “bountiful antitrust work,” including its role in securing major victories for clients Louis Dreyfus Company in the denial of the DOJ’s request for an injunction to block its sale of Imperial Sugar Company; Illumina in a groundbreaking trial win rejecting the FTC’s challenge to its $8 billion acquisition of GRAIL; and Qualcomm in a win on appeal which “vacated a ruling that had certified one of the biggest class actions in history.”