Sysco Corp., North America’s largest food distributor to restaurants, recently acquired rival US Foods in a stock and cash deal valued at $3.5 billion ($3 billion in stock and $500 million in cash). The deal will give Sysco greater geographical reach and new brands including Cattleman’s meat and Devonshire desserts, and create cost-savings along with combined annual sales of about $65 billion. Sysco CEO Bill DeLaney will head the merged company.
posted by Tiffany Haslacker
12/12/13
