WASHINGTON (dpa-AFX) - Sysco Corp. (SYY), a provider of food and related products, announced Monday its agreement to acquire Jetro Restaurant Depot, the Cash & Carry food wholesaler, in a deal with a total enterprise value of approximately $29.1 billion.
Under the deal terms, Jetro Restaurant Depot shareholders will receive $21.6 billion in cash proceeds and 91.5 million Sysco shares.
Further, Sysco maintained fiscal 2026 outlook for sales growth of 3 percent to 5 percent and adjusted earnings per share to be at the high end of $4.50 to $4.60.
For the third quarter 2026, Sysco remains confident in the previously announced consensus outlook for adjusted earnings per share of approximately $0.94.
Regarding the deal, Sysco said it expects the transaction to be mid to high single-digit accretive to earnings per share in the first year following close, and low to mid-teens accretive in the second year following close.
The transaction is expected to close by the third quarter of Syscos fiscal 2027, subject to conditions, including receipt of regulatory approvals.
With the transaction, Sysco would enter the high-margin, growing, and resilient Cash & Carry channel.
Jetro Restaurant Depot is a U.S. wholesale Cash & Carry foodservice provider serving smaller, independent restaurants and businesses with high-quality food at low prices. Jetro Restaurant Depot operates 166 large-format warehouse stores across 35 states that serve more than 725,000 independent restaurants and foodservice operators.
For calendar year 2025, Jetro Restaurant Depot generated around $16 billion in revenue, approximately $2.1 billion in EBITDA, and has maintained a 30-year track record of EBITDA growth.
The combined company generated 2025 annual net revenues of nearly $100 billion, and approximately $6.4 billion of adjusted EBITDA.
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