Sysco Buys Jetro for $29B, Entering Cash-and-Carry Market
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Sysco, the largest food distributor in the U.S., has acquired Jetro Restaurant Depot for $29.1 billion, marking its biggest deal ever. This acquisition propels Sysco into the cash-and-carry wholesale market, a $60-70 billion sector serving independent eateries. Jetro operates 166 warehouses across 35 states, generating $16 billion in revenue last year. The deal, a mix of cash and Sysco shares, gives Jetros owners a 16% stake in the combined entity. While shares in Sysco initially dipped due to heavy debt, management assures a reduction in leverage and maintains earnings outlook. This acquisition expands Syscos market share, potentially facing regulatory scrutiny, and is expected to close in Q3 of fiscal 2027, unlocking $250 million in synergies.
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