Sysco to Acquire Restaurant Depot in $29.1B Deal

Sysco has entered into a definitive agreement to acquire Jetro Holdings, the parent of Restaurant Depot, in a transaction valued at approximately $29.1 billion in cash and stock. The deal would combine the nation’s largest cash-and-carry foodservice wholesaler with Sysco’s broadline food distribution business.

Sysco frames the acquisition as complementary because Restaurant Depot serves small, price-sensitive independent restaurants through a self-service, no-delivery model, and will continue as a standalone business segment. The transaction is expected to face antitrust scrutiny given Sysco’s prior history with the FTC over a large broadline distribution acquisition attempt.