Sysco to Acquire Jetro Restaurant Depot to Expand into Higher-Margin, Growing, and Resilient Cash & Carry Channel

Key Points:

• Sysco has entered into a definitive agreement to acquire Jetro Restaurant Depot for approximately $29.1 billion, combining two leaders in the food-away-from-home industry to create a leading multi-channel foodservice distribution platform in the U.S.
• The transaction is expected to be immediately accretive to margins, earnings per share, and free cash flow, with anticipated annualized net cost synergies of about $250 million within three years, primarily from procurement and supply chain optimizations.
• Jetro Restaurant Depot will continue operating as a standalone business segment within Sysco, maintaining its leadership and headquarters, and plans include opening over 125 new Jetro warehouse locations nationwide over the next two decades, creating jobs and expanding affordable food access.
• The combined company will serve a broader customer base, including smaller independent restaurants through Jetro's Cash & Carry model and larger customers via Sysco's delivery services, enhancing value, choice, and convenience for foodservice operators.
• Sysco reaffirms its full-year 2026 guidance with expected sales growth of 3% to 5% and adjusted EPS at the high end of $4.50 to $4.60, and plans to fund the acquisition with $21 billion in new debt and hybrid securities while maintaining its investment-grade credit ratings and dividend.