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Sysco to Buy US Foods for $3.5 Billion to Create Food-Distribution Giant - WSJ.com
By
Annie Gasparro,
Sarah E. Needleman
and
Ryan Dezember
connect
Updated Dec. 11, 2013
The two biggest U.S. food-distribution companies announced a merger that will create a giant with about $65 billion in annual revenue and enhanced clout over purchasing by institutions ranging from restaurants and hotels to hospitals and schools.

Sysco Corp. SYY 0.00% said it will buy rival US Foods for $3.5 billion, uniting two middlemen that are already central players in the service economy. Sysco alone has about 425,000 customers, and it and US Foods together collected about 27% of the revenue in the U.S. food-distribution market last year, according to research firm Technomic Inc....Founded in 1969, Sysco has grown to 48,100 employees world-wide, thanks in part to acquisitions of smaller regional players. But the US Foods deal is by far its largest to date.

Sysco considered buying US Foods almost seven years ago but didn't. Mr. DeLaney said the change of heart came because US Foods became a more efficient company.

He said US Foods has technology related to customer ordering and a mobile application that Sysco is interested in.
Sysco  food  foodservice  distribution_channels  mergers_&_acquisitions  M&A  Clayton_Dubilier_Rice  KKR  middlemen 
december 2013 by jerryking
The operators at Clayton, Dubilier & Rice
December 1994 | Institutional Investor | by Hilary Rosenberg.
Clayton_Dubilier_Rice  LBOs  private_equity  execution 
july 2012 by jerryking

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