A sign outside one of Sysco’s distribution centers in Poway, Calif., on Feb. 6, 2017. Mike Blake/Reuters
Sysco, the nation’s largest supplier of food and other goods to restaurants and catering businesses, has struck a deal to acquire family-owned Jetro Restaurant Depot for $29.1 billion, including debt.
The transaction, announced March 30, will be paid in a mix of cash and stock. Under the terms of the agreement, Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million shares of Sysco stock, leaving them with about 16 percent of Sysco’s outstanding common shares after the deal closes.
