Cleary Gottlieb represented McDonald’s Ventures, LLC, in the cash sale of 47% of the outstanding interests in Redbox Automated Retail, LLC to Coinstar, Inc. Cleary also represented Redbox in the creation of a separate company to hold Redbox equity interests on behalf of employees participating in Redbox’s equity incentive plan. In the sale transaction, Coinstar agreed to make a future additional investment in Redbox if Redbox meets certain growth targets.
McDonald’s Ventures, which manages the investments McDonald’s holds in future oriented growth initiatives including Chipotle, Boston Market, Redbox and Pret A Manger, is a wholly-owned subsidiary of McDonald’s Corporation. Redbox is a leading operator of self-service DVD rental kiosks, with 800 U.S. locations primarily in supermarkets and McDonald’s restaurants. Coinstar offers self-service coin counting, e-service payment and amusement vending equipment.