Sysco - to buy catering supplier Restaurant Depot in a $29 billion deal
u/SadOnion2110 ·
Reddit — r/stocks
· March 30, 2026 at 14:07
· ⬆ 34 pts
· 💬 8 comments
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Post reports Sysco (SYY) acquiring Jetro Restaurant Depot for $29 billion, expanding into cash-and-carry business.
Author shares factual news including premarket stock drop of 8% due to debt financing, and context on industry consolidation.
Quality assessment: noise/speculation (news sharing without analysis or due diligence).
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https://www.reuters.com/business/sysco-acquire-restaurant-depot-29-billion-deal-wsj-reports-2026-03-30/
Sysco (SYY.N), 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.
Shares of Sysco, which has a market capitalization of $39.2 billion, fell about 8% in premarket trading after 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.
The deal would help Sysco enter the higher-margin "cash-and-carry" business, where Restaurant Depot has about 166 warehouse locations across 35 U.S. states.
"Sysco and Jetro Restaurant Depot will enhance value for small independent restaurants and the consumers they serve by expanding access to more affordable, fresh food products and delivering more choice and convenience," Sysco CEO Kevin Hourican said in a statement, highlighting how the combination would help lower prices for more customers.
Last year, US Foods (USFD.N), opens new tab ended merger talks with Performance Food (PFGC.N), which would have tied together the nation’s No. 2 and No. 3 food‑service distributors in an effort to challenge industry leader Sysco and reduce costs.