Pet Supplies Plus and Wag N’ Wash Complete Inaugural Whole Business Securitization

Paul, Weiss advised Pet Supplies Plus and Wag N’ Wash on its inaugural whole business securitization, which was completed in connection with the separation of the Pet Supplies Plus and Wag N’ Wash brands from Franchise Group, Inc. into an independent corporate entity. The transaction features low fixed-rate debt that reduces the entity's overall interest expense. Financial details were not disclosed.

The Paul, Weiss team was led by corporate partners Mikhel Schecter and Charles Pesant and included tax partners Matthew Jordan and Scott Sontag and counsel Christina Cerrito; intellectual property partner Claudine Meredith-Goujon and counsel Elana Bensoul; and executive compensation counsel Jake Glazeski.