Exclusive | Sysco to Buy Restaurant Depot in $29 Billion Deal

Sysco, the largest U.S. food distributor, is reportedly finalizing a deal to acquire family-owned Restaurant Depot for approximately $29 billion, including debt. The acquisition terms, expected to be announced soon, indicate that Restaurant Depot shareholders would receive $21.6 billion in cash and 91.5 million Sysco shares, valuing the deal at a multiple of over 14 times Restaurant Depot’s operating income. Restaurant Depot primarily serves smaller businesses like delis and independent caterers across the U.S.