The acquisition would be the latest major deal across consumer‑facing industries as firms look for scale to navigate weaker demand and persistently higher costs.
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Sysco
said on Monday it would buy catering supplier Jetro Restaurant Depot in a $29 billion deal, including debt, expanding the top U.S. food distributor’s reach among price-conscious independent restaurants.
The company said it would finance the acquisition with $21 billion in new and hybrid debt, along with $1 billion in cash and equity on hand.
Shares of Sysco fell more than 13% in midday trading, putting the stock on pace for its worst day since March 2020.
Some in the restaurant industry are calling on the U.S. Federal Trade Commission to block Sysco’s proposed acquisition of…
Sysco CEO Kevin Hourican said he is “confident” the $29 billion Restaurant Depot acquisition will win regulatory approval and…
Some in the restaurant industry are calling on the U.S. Federal Trade Commission to block Sysco’s proposed acquisition of…
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