NEW YORK (AP) — Sysco, the nation’s largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.
The acquisition would create a closer link between Sysco and customers that rely on Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”
Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired on a regular basis to cover items that these locations know they’ll need.
Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they’ve purchased from suppliers like Sysco.
It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.
Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.
Restaurant Depot was founded in Brooklyn in 1976. The family run business then known as Jetro Restaurant Depot, has become the nation’s largest cash-and-carry wholesaler.
The boards of both companies have approved the acquisition, but it would still need regulatory approval.
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