General Counsel and Director, has served as the Vice President, Secretary and General Counsel, of Specialty Foods Corporation, a $1 billion highly leveraged diversified food company for the past 5 years. David joined Specialty Foods as part of a new management team that was put in place to orchestrate the restructuring and sale of Specialty Foods and its operating subsidiaries. The management team’s accomplishments during David’s tenure include the following key events:
- Consummated 8 acquisitions totaling $220 million (4.7x EBITDA) and 4 divestitures for $1.1 billion (9.0x EBITDA)
- Refinanced $1.4 billion of debt securities
- Replaced $300 million senior secured debt financing syndicate
- Created over $100 million of incremental cash flow from cash management strategies
- Managed bondholder negotiations, liquidating plan of reorganization and distribution of proceeds to stakeholders with 99% stakeholder approval
Additionally, David recently served in a strategic advisory capacity to Roark Capital, a private equity firm, in connection with its operation of, Carvel Corporation, an $80 million portfolio company involved in the manufacture and franchise of ice cream products. David served as interim general counsel of Carvel and advised on various corporate and legal matters during this three month assignment.
Prior to working with Specialty Foods, David was the Chief Counsel - Mergers and Acquisitions for Sara Lee Corporation, responsible for the legal aspects of all mergers, acquisitions and joint ventures on a worldwide basis. At Sara Lee, David was instrumental in the purchase, sale and integration of numerous consumer packaged goods companies, including the purchase of several companies out of bankruptcy. From 1992 to 1995 David was an associate with the Chicago Office of Sidley & Austin, practicing in the area of corporate and securities law with a focus on mergers and acquisitions, advising such companies as Baxter Healthcare, Telephone & Data Systems and R.R. Donnelley.
David is co-author of Avoiding Pitfalls in Cross-Border Transactions; The M&A Lawyer (July/August 1997) and is a frequent speaker on mergers and acquisitions. David graduated from the University of Minnesota Law School, cum laude, and received his B.A. from the University of Wisconsin.
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