ATTORNEY OF THE YEAR HONOREE
EVA DAVIS
Managing Partner, External Affairs
Winston & Strawn LLP
Eva Davis recently served as lead deal lawyer in the representation of Ghost Lifestyle, a lifestyle sports nutrition brand, in connection with its sale to Keurig Dr. Pepper (KDP) for approximately $1.65 billion. KDP initially purchased a 60% stake in GHOST for $990 million, which will be followed by the acquisition of the remaining 40% stake in 2028. Ghost is a lifestyle sports nutrition business with a portfolio anchored by a leading ready-to-drink energy brand that has been added to KDP’s existing energy drink brand portfolio. The deal closed December 2024. Davis brought her extensive knowledge of commercial terms and deal terms to this transaction, that was not a simple merger or equity sale. Davis also recently served as lead deal lawyer in the representation of LesserEvil in its sale to The Hershey Company. LesserEvil snacks include popcorn, puffs, and curls, and its variety of food snacks will further expand Hershey’s snacking portfolio across its long-established confection brands like Hershey’s, Reese’s and Jolly Ranchers and emerging salty snack brands including SkinnyPop, Dot’s Homestyle Pretzels, and Pirate’s Booty. Deal value is $750 million plus an undisclosed earnout amount in a deal announced April 2025. Davis brought her extensive knowledge of commercial terms and deal terms to this transaction, that was not a simple merger or equity sale and was negotiated during a time of uncertainty due to newly imposed US tariffs for LesserEvil ingredient supplies and expected FTC/Department of Justice antitrust scrutiny given the overlapping markets of LesserEvil and Hershey brands.
