Billionaire Kirsh to Sell Restaurant Depot for $29 Billion
Bloomberg • • business
Key Points:
- Billionaire Nathan “Natie” Kirsh is selling Jetro Restaurant Depot, a key supplier to US restaurants, in a major acquisition deal.
- Sysco Corp. is acquiring Jetro for $29.1 billion, including debt, aiming to form one of the largest food-service groups in the US.
- Jetro shareholders will receive $21.6 billion in cash plus 91.5 million Sysco shares as part of the transaction.
- The acquisition values Jetro at more than 14 times its operating income, highlighting the high premium paid by Sysco.
