Investment Banking

Goldman Sachs feasts at expense of food company client — suit claims

Financial giant accused of gaining over $200 million, working against interests of company it advised on acquisition

Goldman Sachs feasts at expense of food company client — suit claims
Photo: FN Montage

Goldman Sachs put its own interests ahead of that of a corporate client in advising on a wholesale-food company acquisition last year, a new lawsuit alleges.

The suit, filed by United Natural Foods, accuses Goldman of improperly extracting more than $200m in advising the Providence food distributor on its $3bn acquisition of grocery chain Supervalu.

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