SYY · 10-Q · 2026Q3 · Full report

Restaurant Depot Acquisition

SYSCO CORP · 2026-11-04 · Importance 59 · Surprise 60

Sysco agreed to acquire Jetro Restaurant Depot (JRD), a U.S. wholesale cash-and-carry foodservice provider, with closing expected by the third quarter of fiscal 2027 subject to customary conditions and Hart-Scott-Rodino clearance. JRD operates 170 warehouse stores across 35 states and serves more than 725,000 independent restaurants and foodservice operators. Sysco completed bond and equity financing for the cash component of the proposed transaction and expects to use the proceeds for the purchase. Fiscal 2027 included $56 million of acquisition and due-diligence costs and $52 million of intangible amortization expense; Sysco also recorded a $234 million gain on deal-contingent rate locks related to financing the acquisition.

Key facts

• The JRD Acquisition Transactions may not be consummated as expected, in a timely manner, or at all. source
• Sysco faces risks related to access to borrowed funds to grow and finance any remaining amounts needed for the JRD Acquisition Transaction, and a default under its indebtedness could materially adversely affect cash flow and liquidity. source
• Business uncertainties and contractual restrictions while the JRD Acquisition Transactions are pending may affect Sysco and Jetro Restaurant Depot employees, customers, suppliers, and other business relationships. source
• Anticipated benefits of the JRD Acquisition Transactions may not be realized or may not be realized within the expected time period. source
• Sysco faces risks related to integration of Jetro Restaurant Depot. source
• Sysco faces potential outcomes and costs from litigation relating to the JRD Acquisition Transactions. source
• Sysco faces risks related to its ability to effectively finance and integrate acquired businesses. source
• Sysco announced in March 2026 that it had entered into a merger agreement to acquire Jetro Restaurant Depot (JRD), a U.S. wholesale cash-and-carry foodservice provider serving smaller independent restaurants and businesses. source